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NATGAS: Mid-Day Gas Summary: TTF Plunges

NATGAS
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TTF front month has lost ground today with a reduced risk premium on news that Israel told the US that it would not target Iran’s oil and nuclear infrastructure but would focus on military sites, according to the Washington Post.

  • TTF NOV 24 down 3.2% at 39.25€/MWh
  • Temperatures in NW Europe are forecast above normal in the coming week before drifting back to near normal in the second week of the outlook.
  • Norwegian pipeline supplies to Europe are nominated up to 325.8mcm/d today, according to Bloomberg with the return of Troll to full capacity following an unplanned outage. Gassco currently shows outages of 35.6mcm/d today falling to 28.6mcm/d tomorrow.
  • European gas storage was up to 95.07% full on Oct. 13, according to GIE, compared to the five-year average of 91.8% with net injection rates near normal.
  • Hungary and Russia's Gazprom are negotiating additional gas supplies for next year to Budapest, Hungarian Foreign Minister Peter Szijjarto told Russia's RIA news on Tuesday.
  • Italy’s Edison was last week told by Venture Global that first contract cargoes from its Calcasieu Pass LNG, Louisiana export facility would not be available until April 2025 at the earliest, Edison said on Oct. 14 cited by Reuters.
  • LNG floating storage has fallen back below levels seen this time last year but remains above normal ahead of the upcoming winter heating season.
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TTF front month has lost ground today with a reduced risk premium on news that Israel told the US that it would not target Iran’s oil and nuclear infrastructure but would focus on military sites, according to the Washington Post.

  • TTF NOV 24 down 3.2% at 39.25€/MWh
  • Temperatures in NW Europe are forecast above normal in the coming week before drifting back to near normal in the second week of the outlook.
  • Norwegian pipeline supplies to Europe are nominated up to 325.8mcm/d today, according to Bloomberg with the return of Troll to full capacity following an unplanned outage. Gassco currently shows outages of 35.6mcm/d today falling to 28.6mcm/d tomorrow.
  • European gas storage was up to 95.07% full on Oct. 13, according to GIE, compared to the five-year average of 91.8% with net injection rates near normal.
  • Hungary and Russia's Gazprom are negotiating additional gas supplies for next year to Budapest, Hungarian Foreign Minister Peter Szijjarto told Russia's RIA news on Tuesday.
  • Italy’s Edison was last week told by Venture Global that first contract cargoes from its Calcasieu Pass LNG, Louisiana export facility would not be available until April 2025 at the earliest, Edison said on Oct. 14 cited by Reuters.
  • LNG floating storage has fallen back below levels seen this time last year but remains above normal ahead of the upcoming winter heating season.