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NATGAS: TTF Falls Amid Warm Weather and Supply Recovery Expected

NATGAS
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TTF has fallen through the lows from last week with muted demand due to warm weather forecast this month adding to healthy storage and with Norway supply expected to start recovering later this week. 

  • Temperatures in NW Europe are expected to edge higher in the coming days and remain above normal throughout the coming two week forecast.
  • Norwegian pipeline supplies to Europe are today nominated at 185.7mcm/d, according to Bloomberg. Gassco shows outages of 191.1mcm/d today and above 163mcm/d until Sept. 19 after which flows are expected to start to return.
  • Algeria gas flow to Italy at Mazara is 34.0mcm/d today, according to Bloomberg, to remain nearly half normal levels.
  • Gas transit flows via Sudzha are nominated at 42.0mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was at 232mcm/d on Sept. 14, according to Bloomberg, compared to an average of 252mcm/d so far this month.
  • Net European storage injection rates have averaged well below normal so far this month with total stores edging up to 93.30% full on Sep 14, according to GIE, compared to the five-year average of 87.4%.
  • ICE TTF daily aggregate traded futures volume was 213k on Sep 13.
    • TTF OCT 24 down 2.8% at 34.65€/MWh
    • TTF WIN 24 down 2.1% at 36.79€/MWh
    • TTF SUM 25 down 1.7% at 35.85€/MWh
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TTF has fallen through the lows from last week with muted demand due to warm weather forecast this month adding to healthy storage and with Norway supply expected to start recovering later this week. 

  • Temperatures in NW Europe are expected to edge higher in the coming days and remain above normal throughout the coming two week forecast.
  • Norwegian pipeline supplies to Europe are today nominated at 185.7mcm/d, according to Bloomberg. Gassco shows outages of 191.1mcm/d today and above 163mcm/d until Sept. 19 after which flows are expected to start to return.
  • Algeria gas flow to Italy at Mazara is 34.0mcm/d today, according to Bloomberg, to remain nearly half normal levels.
  • Gas transit flows via Sudzha are nominated at 42.0mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was at 232mcm/d on Sept. 14, according to Bloomberg, compared to an average of 252mcm/d so far this month.
  • Net European storage injection rates have averaged well below normal so far this month with total stores edging up to 93.30% full on Sep 14, according to GIE, compared to the five-year average of 87.4%.
  • ICE TTF daily aggregate traded futures volume was 213k on Sep 13.
    • TTF OCT 24 down 2.8% at 34.65€/MWh
    • TTF WIN 24 down 2.1% at 36.79€/MWh
    • TTF SUM 25 down 1.7% at 35.85€/MWh