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Nord Stream Supply still Limited

NATURAL GAS

European benchmark TTF gas up 1.1% to 119€/MWh as disruption to Russian flows continues.

  • Russian flows through Nord Stream are still curtailed today at 64.7mcm/d with flows still limited to 67mcm/d compared to the normal max of 167mcm/d. Flows through Ukraine are steady at 41.7mcm/d.
  • Gazprom warn there is still no solution to fix the issues with the gas turbines which they say are causing the reduced supply. With European nations receiving limited contract volumes some members, such as Italy and Germany have suggested the flow restriction are politically motivated.
  • The weekly average of LNG supply into Europe remains above normal for the time of year. Concern remains are to whether supply can be maintained with potential cargoes missing due to the US Freeport LNG export terminal outage. Norwegian supply is steady at 324.4mcm/d.

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