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NATGAS: Gas Summary at European Close: TTF Loses Ground

NATGAS
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TTF is falling today but has pared some losses after a headline suggesting Gazprom doesn’t expect transit flows via Ukraine next year.

  • TTF DEC 24 down 1.8% at 46.88€/MWh
  • Russia’s Gazprom is assuming no gas flows will go via Ukraine after Dec 31 in internal planning according to Reuters.
  • The latest weather forecasts show temperatures in NW Europe holding near of just slightly above normal throughout the coming two weeks.
  • European gas storage is down to 87.68% full on Nov. 24, according to GIE compared to the previous five-year average of 89.8% but with withdrawals back near to normal on the day.
  • Norwegian pipeline supplies to Europe are 331.3mcm/d today, according to Bloomberg.
  • Last week saw European gas demand 15% higher than seasonally normal for the third consecutive week, according to GFB.
  • Almost all interruptible marketable gas capacity from Slovakia into Austria at the Baumgarten cross-border interconnection point was booked at a monthly Prisma auction Nov. 26.
  • Woodside safely shut down its Pluto LNG facility Nov. 25 due to an unplanned event according to the company.
  • Plans by Trumps administration to reverse LNG permitting restrictions on his first day in office will not have a near term impact on global gas supply according to Goldman Sachs analysts.
  • Turkey is in talks with U.S. officials for a sanctions waiver so it can continue buying Russian gas according to Energy Minister Alparslan Bayraktar.
  • LNG at sea has fallen from a peak late last week but rose in the last week after an increasing trend in place since mid-October, according to Bloomberg.
  • The globalisation of regional gas markets appears unstoppable, as regional hubs become increasingly inter-linked with flexible LNG, the IEA’s Greg Molnar said.
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TTF is falling today but has pared some losses after a headline suggesting Gazprom doesn’t expect transit flows via Ukraine next year.

  • TTF DEC 24 down 1.8% at 46.88€/MWh
  • Russia’s Gazprom is assuming no gas flows will go via Ukraine after Dec 31 in internal planning according to Reuters.
  • The latest weather forecasts show temperatures in NW Europe holding near of just slightly above normal throughout the coming two weeks.
  • European gas storage is down to 87.68% full on Nov. 24, according to GIE compared to the previous five-year average of 89.8% but with withdrawals back near to normal on the day.
  • Norwegian pipeline supplies to Europe are 331.3mcm/d today, according to Bloomberg.
  • Last week saw European gas demand 15% higher than seasonally normal for the third consecutive week, according to GFB.
  • Almost all interruptible marketable gas capacity from Slovakia into Austria at the Baumgarten cross-border interconnection point was booked at a monthly Prisma auction Nov. 26.
  • Woodside safely shut down its Pluto LNG facility Nov. 25 due to an unplanned event according to the company.
  • Plans by Trumps administration to reverse LNG permitting restrictions on his first day in office will not have a near term impact on global gas supply according to Goldman Sachs analysts.
  • Turkey is in talks with U.S. officials for a sanctions waiver so it can continue buying Russian gas according to Energy Minister Alparslan Bayraktar.
  • LNG at sea has fallen from a peak late last week but rose in the last week after an increasing trend in place since mid-October, according to Bloomberg.
  • The globalisation of regional gas markets appears unstoppable, as regional hubs become increasingly inter-linked with flexible LNG, the IEA’s Greg Molnar said.