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NATGAS: TTF Steady After Drop Yesterday Amid Muted Demand and High Storage

NATGAS

TTF front month is holding steady after falling yesterday with warm weather and muted demand adding to healthy storage and with the end of the peak Norway maintenance season in sight.

  • Temperatures in NW Europe are expected to generally stay above normal throughout the coming two-week forecast following the recent cooler spell.
  • Norwegian pipeline supplies to Europe are today nominated up to 203.9mcm/d, according to Bloomberg. Gassco shows outages of 171.4mcm/d today rising to 187.2mcm/d on Sept. 19 after which flows are expected to start to return.
  • Algeria gas flow to Italy at Mazara is gradually recovering from a low of 19.3mcm/d on Sept. 7 up to 41.15mcm/d today, according to Bloomberg.
  • Gas transit flows via Sudzha are nominated at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was at 229mcm/d on Sept. 15, according to Bloomberg, compared to an average of 243mcm/d over the previous week.
  • European gas storage is slowly rising up to 93.40% full on Sep 15, according to GIE, compared to the five-year average of 87.6% amid well below normal net injection rates this month.
  • ICE TTF daily aggregate traded futures volume was 252k on Sep 16.
    • TTF OCT 24 up 0.5% at 34.24€/MWh
    • TTF WIN 24 up 0.1% at 36.25€/MWh
    • TTF SUM 25 up 0.1% at 35.27€/MWh
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TTF front month is holding steady after falling yesterday with warm weather and muted demand adding to healthy storage and with the end of the peak Norway maintenance season in sight.

  • Temperatures in NW Europe are expected to generally stay above normal throughout the coming two-week forecast following the recent cooler spell.
  • Norwegian pipeline supplies to Europe are today nominated up to 203.9mcm/d, according to Bloomberg. Gassco shows outages of 171.4mcm/d today rising to 187.2mcm/d on Sept. 19 after which flows are expected to start to return.
  • Algeria gas flow to Italy at Mazara is gradually recovering from a low of 19.3mcm/d on Sept. 7 up to 41.15mcm/d today, according to Bloomberg.
  • Gas transit flows via Sudzha are nominated at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • European LNG sendout was at 229mcm/d on Sept. 15, according to Bloomberg, compared to an average of 243mcm/d over the previous week.
  • European gas storage is slowly rising up to 93.40% full on Sep 15, according to GIE, compared to the five-year average of 87.6% amid well below normal net injection rates this month.
  • ICE TTF daily aggregate traded futures volume was 252k on Sep 16.
    • TTF OCT 24 up 0.5% at 34.24€/MWh
    • TTF WIN 24 up 0.1% at 36.25€/MWh
    • TTF SUM 25 up 0.1% at 35.27€/MWh