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NATGAS: European Gas End of Day: Middle East Tensions Helping Recovery

NATGAS
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 TTF slipped back on Monday as Norway pipeline supply and LNG imports have been increasing although the current unplanned Troll outage was earlier extended offering support along with increasing Middle East escalations.

  • TTF NOV 24 down -1.2% at 40.5€/MWh
  • Iran’s Tasnim reports supported the more recent strength with headlines citing military sources suggesting they were ready to retaliate against any Israeli attacks with more intensity.
  • Ukraine has no plans to extend a gas transit deal with Russia after it expires at the end of the year, Ukrainian Prime Minister Denys Shmyhal said on Monday after a meeting with his Slovak counterpart.
  • Slovakia’s Prime Minister said he welcomed the confirmation from Ukraine that it has interest to continue using gas and oil transit system on its territory. Any further details are currently unclear.
  • Norwegian pipeline supplies to Europe are nominated down slightly to 310.4mcm/d today, according to Bloomberg. Extended unplanned Troll works will keep outages of 41.8mcm/d in the coming says, Gassco shows.
  • European gas storage has seen a return to small net injections after briefly showing small withdrawals last week. Gas storage is 94.42% full on Oct. 5, according to GIE, compared to the five-year average of 91.0%.
  • European LNG sendout rose to the highest since May at 307mcm/d on Oct. 4, according to Bloomberg, compared to an average of 240mcm/d over the previous week.
  • The laying of a third sub-sea pipeline from Israels Leviathon gas rig has been suspended until April 2025 due to heightened tensions in the region Chevron said on Monday – delayed by at least 6-months.
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 TTF slipped back on Monday as Norway pipeline supply and LNG imports have been increasing although the current unplanned Troll outage was earlier extended offering support along with increasing Middle East escalations.

  • TTF NOV 24 down -1.2% at 40.5€/MWh
  • Iran’s Tasnim reports supported the more recent strength with headlines citing military sources suggesting they were ready to retaliate against any Israeli attacks with more intensity.
  • Ukraine has no plans to extend a gas transit deal with Russia after it expires at the end of the year, Ukrainian Prime Minister Denys Shmyhal said on Monday after a meeting with his Slovak counterpart.
  • Slovakia’s Prime Minister said he welcomed the confirmation from Ukraine that it has interest to continue using gas and oil transit system on its territory. Any further details are currently unclear.
  • Norwegian pipeline supplies to Europe are nominated down slightly to 310.4mcm/d today, according to Bloomberg. Extended unplanned Troll works will keep outages of 41.8mcm/d in the coming says, Gassco shows.
  • European gas storage has seen a return to small net injections after briefly showing small withdrawals last week. Gas storage is 94.42% full on Oct. 5, according to GIE, compared to the five-year average of 91.0%.
  • European LNG sendout rose to the highest since May at 307mcm/d on Oct. 4, according to Bloomberg, compared to an average of 240mcm/d over the previous week.
  • The laying of a third sub-sea pipeline from Israels Leviathon gas rig has been suspended until April 2025 due to heightened tensions in the region Chevron said on Monday – delayed by at least 6-months.