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NATGAS: TTF Stable as Near Normal Temperatures Ease Pressure on Storage

NATGAS
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TTF is holding steady after easing lower earlier this week from a high of €49.55/MWh on Nov. 22.  The European market continues to weigh the supply risk to Russia gas transit via Ukraine along with competition for LNG imports from Asia. Milder weather across Europe has eased pressure on gas storage after the early season withdrawals.

  • The current weather forecasts show temperatures across Europe holding near or slightly above normal into the first week of December.
  • European gas storage is down to 87.04% full on Nov. 26, according to GIE compared to the previous five year average of 89.2% with near normal net withdrawals since Nov. 24.
  • Gas transit flows via Sudzha remain stable at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was 358mcm/d on Nov. 26, according to Bloomberg compared to an average of 321mcm/d so far in November and around 445mcm/d this time last year.
  • Norwegian pipeline supplies to Europe are at 326.4mcm/d today, according to Bloomberg, amid planned outages at Heidrun and Dvalin reducing available capacity by 13.9mcm/d.
  • Algeria gas flow to Italy at Mazara is 62.7mcm/d today, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 321k on Nov. 27.
    • TTF DEC 24 down 0.4% at 46.56€/MWh
    • TTF Q1 25 down 0.4% at 47€/MWh
    • TTF SUM 25 down 0.4% at 44.93€/MWh
    • TTF WIN 25 down 0.2% at 41.41€/MWh
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TTF is holding steady after easing lower earlier this week from a high of €49.55/MWh on Nov. 22.  The European market continues to weigh the supply risk to Russia gas transit via Ukraine along with competition for LNG imports from Asia. Milder weather across Europe has eased pressure on gas storage after the early season withdrawals.

  • The current weather forecasts show temperatures across Europe holding near or slightly above normal into the first week of December.
  • European gas storage is down to 87.04% full on Nov. 26, according to GIE compared to the previous five year average of 89.2% with near normal net withdrawals since Nov. 24.
  • Gas transit flows via Sudzha remain stable at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was 358mcm/d on Nov. 26, according to Bloomberg compared to an average of 321mcm/d so far in November and around 445mcm/d this time last year.
  • Norwegian pipeline supplies to Europe are at 326.4mcm/d today, according to Bloomberg, amid planned outages at Heidrun and Dvalin reducing available capacity by 13.9mcm/d.
  • Algeria gas flow to Italy at Mazara is 62.7mcm/d today, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 321k on Nov. 27.
    • TTF DEC 24 down 0.4% at 46.56€/MWh
    • TTF Q1 25 down 0.4% at 47€/MWh
    • TTF SUM 25 down 0.4% at 44.93€/MWh
    • TTF WIN 25 down 0.2% at 41.41€/MWh