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NATGAS: TTF Extends Decline Amid Lower US LNG Supply Risk

NATGAS

TTF extends the decline toward the lows from last week as the market prices lower risk to US LNG export supplies as the path of Tropical Storm Francine tracks east.

  • The latest track suggests the storm is east of LNG facilities on the Texas-Louisianna border.
  • Bloomberg data shows Cameron LNG feedgas has dropped ahead of the expected landfall in Louisiana as a hurricane on Wednesday.
  • Front month TTF has also reverse much of the gains seen due to supply risk from LNG competition from Egypt seen last week. High underground storage and higher than normal LNG volumes at sea are helping to ease tight supply fears as the winter heating season approaches.
    • TTF OCT 24 down 3.6% at 36€/MWh
    • TTF WIN 24 down 3% at 38.3€/MWh
    • TTF SUM 25 down 2.3% at 37.4€/MWh
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