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NATGAS: Mid-Day Gas Summary: TTF Trading Positive on the Day

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF is on target for a net gain this week, amid volatile trading, as the market looks for clarity on the future of gas transit via Ukraine. Cooler temperatures and lower wind generation later this month are supportive of prices with the market still wary of storage levels through the winter.

  • The number of US LNG export cargoes dipped to 25 in the week to Dec. 18 as the market awaits the first Plaquemines LNG cargo. The terminal feedgas is estimated at 0.39bcf/d today.
  • The German lower house of parliament on Friday passed a law that includes a waiver of the German gas storage levy on border points and virtual trading hubs.
  • Norway’s natural gas production increased to 360mcm/d in November from 341.9mcm/d in October and was 3% above a forecast of 349.5mcm/d.
  • Energy Transfer LNG agreed a 20 year sale and purchase agreement with Chevron to supply 2mtpa of LNG from the Lake Charles project in Louisiana.
  • Japan Gas Association urged stronger diplomacy to eliminate destination clauses in long-term LNG contracts to ensure flexibility for resale.
    • TTF JAN 25 up 0.9% at 43.46€/MWh
    • JKM Feb 25 up 0.5% at 13.85$/mmbtu
    • US Natgas JAN 25 up 2% at 3.66$/mmbtu
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TTF is on target for a net gain this week, amid volatile trading, as the market looks for clarity on the future of gas transit via Ukraine. Cooler temperatures and lower wind generation later this month are supportive of prices with the market still wary of storage levels through the winter.

  • The number of US LNG export cargoes dipped to 25 in the week to Dec. 18 as the market awaits the first Plaquemines LNG cargo. The terminal feedgas is estimated at 0.39bcf/d today.
  • The German lower house of parliament on Friday passed a law that includes a waiver of the German gas storage levy on border points and virtual trading hubs.
  • Norway’s natural gas production increased to 360mcm/d in November from 341.9mcm/d in October and was 3% above a forecast of 349.5mcm/d.
  • Energy Transfer LNG agreed a 20 year sale and purchase agreement with Chevron to supply 2mtpa of LNG from the Lake Charles project in Louisiana.
  • Japan Gas Association urged stronger diplomacy to eliminate destination clauses in long-term LNG contracts to ensure flexibility for resale.
    • TTF JAN 25 up 0.9% at 43.46€/MWh
    • JKM Feb 25 up 0.5% at 13.85$/mmbtu
    • US Natgas JAN 25 up 2% at 3.66$/mmbtu