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NATGAS: Natural Gas Summary at European Close: TTF Eases Back

NATGAS
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TTF has eased back from after yesterday’s gains as Hurricane Francine’s landfall in Louisiana avoided some US LNG terminals. Meanwhile, gas supplies to Europe remain steady despite previous concern for Ukraine transit flows. Front month remains hovering around 2-month lows.

  • TTF OCT 24 down 2.3% at 35.32€/MWh
  • Gas transit flows via Sudzha are nominated at 42.3mcm/d today after initialling showing as 29.9mcm/d in an early nomination yesterday, according to Ukraine’s gas transmission operator.
  • Below normal temperatures are expected to remain in NW Europe into the weekend before rising back above normal next week.
  • Norwegian pipeline supplies to Europe are today nominated at 197.2mcm/d, according to Bloomberg. Gassco shows outages of 181.9mcm/d today rising slightly to 215.6mcm/d on Sept. 14.
  • European gas storage edges up to 93.19% full on Sep 10, according to GIE, compared to the five-year average of 86.7%.
  • Traders expect the TTF Summer/Winter 25 spread to widen, as current levels are disincentivising storage injections next summer, Platts said.
  • Europe risks idle or stranded LNG assets as building of import terminals and related infrastructure continues and with peak LNG consumption likely already reached, according to IEEFA.
  • Hurricane Francine has caused power outages across Louisiana including near Plaquemines LNG, according to data from utility Entergy cited by Bloomberg.
  • LNG export developer Glenfarne announced a preliminary head of agreement with an undisclosed global LNG player from its planned Texas LNG project, according to a company statement cited by Bloomberg.
  • Asian LNG importers are increasingly using flexible LNG contracts to manage supply security, executives said at APPEC, cited by Platts.
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TTF has eased back from after yesterday’s gains as Hurricane Francine’s landfall in Louisiana avoided some US LNG terminals. Meanwhile, gas supplies to Europe remain steady despite previous concern for Ukraine transit flows. Front month remains hovering around 2-month lows.

  • TTF OCT 24 down 2.3% at 35.32€/MWh
  • Gas transit flows via Sudzha are nominated at 42.3mcm/d today after initialling showing as 29.9mcm/d in an early nomination yesterday, according to Ukraine’s gas transmission operator.
  • Below normal temperatures are expected to remain in NW Europe into the weekend before rising back above normal next week.
  • Norwegian pipeline supplies to Europe are today nominated at 197.2mcm/d, according to Bloomberg. Gassco shows outages of 181.9mcm/d today rising slightly to 215.6mcm/d on Sept. 14.
  • European gas storage edges up to 93.19% full on Sep 10, according to GIE, compared to the five-year average of 86.7%.
  • Traders expect the TTF Summer/Winter 25 spread to widen, as current levels are disincentivising storage injections next summer, Platts said.
  • Europe risks idle or stranded LNG assets as building of import terminals and related infrastructure continues and with peak LNG consumption likely already reached, according to IEEFA.
  • Hurricane Francine has caused power outages across Louisiana including near Plaquemines LNG, according to data from utility Entergy cited by Bloomberg.
  • LNG export developer Glenfarne announced a preliminary head of agreement with an undisclosed global LNG player from its planned Texas LNG project, according to a company statement cited by Bloomberg.
  • Asian LNG importers are increasingly using flexible LNG contracts to manage supply security, executives said at APPEC, cited by Platts.