NATGAS: TTF Edges Higher Amid Supply Risk from Slow Freeport Return

TTF is holding onto gains from yesterday with support from the slow return of Freeport after the Hurricane Beryl shutdown. At least seven scheduled cargoes have been cancelled due to the outage, according to Bloomberg but feedgas flows are edging higher up to 0.38bcf/d today.

• Temperatures are forecast to hold above normal across Europe this week with temperatures in NW Europe rising in the coming days before easing back towards normal from around July 22.
• Norwegian pipeline supplies to Europe are today nominated at 334.2mcm/d with Gassco showing outages of 24mcm/d today rising to 33mcm/d tomorrow.
• European LNG sendout edged back up to 240mcm/d on July 15 according to Bloomberg after falling to a low of 218mcm/d on July 13, although the net imports remain below the July average so far.
• European gas storage injections have risen to 81.38% full on July 15 according to GIE compared to the five year average of 71.8% with near normal injection rates.
• Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 59.4cm/d.
• ICE TTF daily aggregate traded futures volume was at 271k on July 16.
  • TTF AUG 24 up 0.8% at 33.05€/MWh
  • TTF WIN 24 up 0.6% at 38.16€/MWh
  • TTF SUM 25 up 0.5% at 36.6€/MWh