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NATGAS: TTF Lower as Storage Withdrawals Return to Near Normal

NATGAS
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TTF drifts lower with European temperatures holding near normal and as storage withdrawals return to seasonal normal levels.

  • The latest weather forecasts show temperatures in NW Europe holding near of just slightly above normal throughout the coming two weeks.
  • European gas storage is down to 87.68% full on Nov. 24, according to GIE compared to the previous five year average of 89.8% but with withdrawals back near to normal on the day.
  • Gas transit flows via Sudzha are 42.2mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was down to 266mcm/d over the weekend on Nov. 24, according to Bloomberg compared to an average of 337mcm/d last week. US LNG netbacks favour Asia over Europe for Q1, BNEF shows today.
  • Norwegian pipeline supplies to Europe are 331.3mcm/d today, according to Bloomberg. Gassco shows planned outages at Heidrun and Dvalin totalling 13.9mcm/d today.
  • Algeria gas flow to Italy at Mazara is 64.6mcm/d today, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 342k on Nov. 25.
    • TTF DEC 24 down 1.3% at 47.12€/MWh
    • TTF Q1 25 down 1.1% at 47.6€/MWh
    • TTF SUM 25 down 1% at 45.35€/MWh
    • TTF WIN 25 down 0.9% at 41.34€/MWh
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TTF drifts lower with European temperatures holding near normal and as storage withdrawals return to seasonal normal levels.

  • The latest weather forecasts show temperatures in NW Europe holding near of just slightly above normal throughout the coming two weeks.
  • European gas storage is down to 87.68% full on Nov. 24, according to GIE compared to the previous five year average of 89.8% but with withdrawals back near to normal on the day.
  • Gas transit flows via Sudzha are 42.2mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was down to 266mcm/d over the weekend on Nov. 24, according to Bloomberg compared to an average of 337mcm/d last week. US LNG netbacks favour Asia over Europe for Q1, BNEF shows today.
  • Norwegian pipeline supplies to Europe are 331.3mcm/d today, according to Bloomberg. Gassco shows planned outages at Heidrun and Dvalin totalling 13.9mcm/d today.
  • Algeria gas flow to Italy at Mazara is 64.6mcm/d today, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 342k on Nov. 25.
    • TTF DEC 24 down 1.3% at 47.12€/MWh
    • TTF Q1 25 down 1.1% at 47.6€/MWh
    • TTF SUM 25 down 1% at 45.35€/MWh
    • TTF WIN 25 down 0.9% at 41.34€/MWh