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Mid-Day Gas Summary: TTF Trends Down

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Front month TTF is edging down today amid pressure from higher Norwegian flows and strong seasonal gas storage levels.

  • TTF JUN 24 down 0.5% at 33.37€/MWh
  • TTF Q3 24 down 0.3% at 34.25€/MWh
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 287.90 mcm/d vs 5-day moving avg 280.32 mcm/d according to Gassco.
  • European gas storage was 69% full on May 27 vs the 5-yr seasonal norm of 56% for this time of year according to GIE.
  • LNG flows to Northwest Europe on May 27 were 144.04 mcm/d, 98% lower than the 30 day average. US liquefied natural gas exports are currently more profitable to Asia in July, August and September.
  • Austria, the Czech Republic, Hungary and Slovakia have stepped up pressure on Brussels to push back against Germany over a gas tariff they say goes against European energy security measures.
  • Russia could cope with an EU LNG import ban while it would lead to higher prices for the region according to Russian foreign ministry official Dmitry Birichevsky based on RIA reports.
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Front month TTF is edging down today amid pressure from higher Norwegian flows and strong seasonal gas storage levels.

  • TTF JUN 24 down 0.5% at 33.37€/MWh
  • TTF Q3 24 down 0.3% at 34.25€/MWh
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 287.90 mcm/d vs 5-day moving avg 280.32 mcm/d according to Gassco.
  • European gas storage was 69% full on May 27 vs the 5-yr seasonal norm of 56% for this time of year according to GIE.
  • LNG flows to Northwest Europe on May 27 were 144.04 mcm/d, 98% lower than the 30 day average. US liquefied natural gas exports are currently more profitable to Asia in July, August and September.
  • Austria, the Czech Republic, Hungary and Slovakia have stepped up pressure on Brussels to push back against Germany over a gas tariff they say goes against European energy security measures.
  • Russia could cope with an EU LNG import ban while it would lead to higher prices for the region according to Russian foreign ministry official Dmitry Birichevsky based on RIA reports.