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Norway Strikes Add to Supply Issues

NATURAL GAS

TTF continues to rise with no easing of the supply issues into Europe. Front month TTF up 2.65% to 167.25€/MWh

  • Russian flows are unchanged with Nord Stream nominated at approximately 64.7mcm/d and flows through Sudzha in Ukraine at 42.15mcm/d.
  • Three Norwegian fields have now gone into shutdown as Lederne Union went on strike from midnight taking 89kboe/d offline. More field are due to shutdown tomorrow taking another 333kboe/d offline followed by yet more on 9th Jul. Norwegian supply is so far still nominated at 333.7mcm/d for today.
  • European gas storage is now up to 59.4% full as injections continue despite the supply disruptions.

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