August 29, 2024 06:57 GMT
NATGAS: TTF Edges Higher With Support from Drop in Norway Supply
NATGAS
TTF front month is edging higher today after trading between €38.3MWh and €39.58/MWh yesterday with support from a drop in Norwegian supplies during maintenance. LNG supplies are rising to cover the missing pipeline gas imports.
- Norwegian pipeline supplies to Europe have fallen to 273.7mcm/d today, according to Bloomberg amid field and processing plant maintenance. Gassco shows capacity reductions of 76.55mcm/d today rising to 237.25mcm/d on Sept. 2.
- European LNG sendout was up to the highest since July 24 at 251mcm/d on Aug 27 according to Bloomberg compared to an average of 203mcm/d over the previous week but around 320mcmd this time last year.
- Temperatures in NW Europe are expected to hold above normal over the coming two weeks although are forecast to drift back closer to normal during the second week.
- Gas transit flows via Sudzha are nominated unchanged at 42.4mcm/d today, according to Ukraine’s gas transmission operator.
- European gas storage is up to 91.97% full on Aug 27 according to GIE compared to the five year average of 84.05% but with injection rates falling back below normal.
- Algeria gas flow to Italy at Mazara is today at 58.7cm/d, according to Bloomberg.
- ICE TTF daily aggregate traded futures volume was 342k on Aug 28.
- TTF SEP 24 up 0.6% at 38.75€/MWh
- TTF WIN 24 down 0.2% at 41.11€/MWh
- TTF SUM 25 up 0.1% at 39.95€/MWh
216 words