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NATGAS: Mid-Day Gas Summary: TTF on the Rise

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF front-month is rising today after yesterday’s selloff with markets focusing on winter risks despite bearish near-term fundamentals.

  • TTF OCT 24 up 1.9% at 34.73€/MWh
  • Temperatures in NW Europe are expected to generally stay above normal throughout the coming two-week forecast following the recent cooler spell.
  • Norwegian pipeline supplies to Europe are today nominated up to 203.9mcm/d, according to Bloomberg. Gassco shows outages of 171.4mcm/d today rising to 187.2mcm/d on Sept. 19 after which flows are expected to start to return.
  • Gas transit flows via Sudzha are nominated at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • European natural gas storage has been slowly rising to 93.40% full on Sep 15, according to GIE, but with injection rates limited due to curtailed pipeline supplies to Europe from Norway and Algeria.
  • The quantity of LNG on tankers that have not unloaded for at least 20 days has fallen from a high of 4.64m tons on Sept. 14 but is still 0.8% higher on the week at 4.1m tons as of Sept. 15, according to Bloomberg estimates.
  • Malaysia’s 30-day moving average of LNG exports rose to its highest since late-July on Sep. 15, according to Bloomberg.
  • D.Trading, the commercial arm of Ukraine power producer DTEK, hopes to agree to receive its first LNG cargo from Venture Global expected to arrive in December, according to Montel.
  • Bangladesh's Rupantarita Prakritik Gas Company Ltd (RPGCL) has issued a tender for two LNG cargoes for delivery in early October according to Reuters sources.
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TTF front-month is rising today after yesterday’s selloff with markets focusing on winter risks despite bearish near-term fundamentals.

  • TTF OCT 24 up 1.9% at 34.73€/MWh
  • Temperatures in NW Europe are expected to generally stay above normal throughout the coming two-week forecast following the recent cooler spell.
  • Norwegian pipeline supplies to Europe are today nominated up to 203.9mcm/d, according to Bloomberg. Gassco shows outages of 171.4mcm/d today rising to 187.2mcm/d on Sept. 19 after which flows are expected to start to return.
  • Gas transit flows via Sudzha are nominated at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • European natural gas storage has been slowly rising to 93.40% full on Sep 15, according to GIE, but with injection rates limited due to curtailed pipeline supplies to Europe from Norway and Algeria.
  • The quantity of LNG on tankers that have not unloaded for at least 20 days has fallen from a high of 4.64m tons on Sept. 14 but is still 0.8% higher on the week at 4.1m tons as of Sept. 15, according to Bloomberg estimates.
  • Malaysia’s 30-day moving average of LNG exports rose to its highest since late-July on Sep. 15, according to Bloomberg.
  • D.Trading, the commercial arm of Ukraine power producer DTEK, hopes to agree to receive its first LNG cargo from Venture Global expected to arrive in December, according to Montel.
  • Bangladesh's Rupantarita Prakritik Gas Company Ltd (RPGCL) has issued a tender for two LNG cargoes for delivery in early October according to Reuters sources.