NATGAS: TTF Falls Amid Easing Supply Risks and Building Storage

TTF falls as gas in store builds amid easing supply risks, but front month remains above the monthly low of €30.3256/MWh seen on July 11.

• A second tanker has arrived at Freeport LNG since the facility resume production, according to Bloomberg. Feedgas flows are up to 0.76bcf/d, consistent with the operation of one of the three trains.
• Temperatures in NW Europe are forecast near normal in the coming days but could edge back slightly above normal into the weekend and through the second week of the outlook. 
• Norwegian pipeline supplies to Europe are today nominated at 322.9mcm/d with Gassco showing outages until July 28 peaking at 40mcm/d on July 24.
• European LNG sendout was back down to 241mcm/d on July 20 after recovering to the highest since late May at 276mcm/d on July 19, according to Bloomberg.
• European gas storage injections have risen to 82.53% full on July 20 according to GIE compared to the five year average of 73.0% with steady injection rates.
• Gas transit flows through Ukraine are at 40.9mcm/d today and Algeria gas flow to Italy at Mazara are at 55.1cm/d.
• ICE TTF daily aggregate traded futures volume was at 171k on July 19.
  • TTF AUG 24 down 3.1% at 31.16€/MWh
  • TTF WIN 24 down 2.1% at 36.41€/MWh
  • TTF SUM 25 down 1.9% at 35.11€/MWh