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NATGAS: Mid-Day Gas Summary: TTF Ticks Up

NATGAS
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TTF is edging up again despite storage withdrawals returning to seasonal normal levels. Continued concern for winter supply and fears of further escalation between Russia and Ukraine are maintaining support.

  • TTF DEC 24 up 0.6% at 48.02€/MWh
  • 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. Gassco shows planned outages at Heidrun and Dvalin totalling 13.9mcm/d today.
  • Last week saw European gas demand 15% higher than seasonally normal for the third consecutive week, according to GFB’s Giovanni Bettinelli.
  • Woodside safely shut down its Pluto LNG facility on Monday due to an unplanned event according to the company. It is currently under investigation.
  • 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.
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TTF is edging up again despite storage withdrawals returning to seasonal normal levels. Continued concern for winter supply and fears of further escalation between Russia and Ukraine are maintaining support.

  • TTF DEC 24 up 0.6% at 48.02€/MWh
  • 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. Gassco shows planned outages at Heidrun and Dvalin totalling 13.9mcm/d today.
  • Last week saw European gas demand 15% higher than seasonally normal for the third consecutive week, according to GFB’s Giovanni Bettinelli.
  • Woodside safely shut down its Pluto LNG facility on Monday due to an unplanned event according to the company. It is currently under investigation.
  • 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.