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Norway’s Natural Gas Outages Support TTF

NATURAL GAS

The front-month TTF contract has extended gains from this morning with support from outage extensions in Norway.

  • Prices ticked higher this morning supported by the extension to the unplanned outage at Norway’s Hammerfest LNG facility to 14 June, previously scheduled to return online on 7 June.
  • The unplanned outage at Norne has been delayed by three days until 12 June, affecting 6.5mcm/d.
  • The yearly maintenance at Oseberg has also been extended. Maintenance has started on 23 May and will continue until 27 June, affecting 22.5mcm/d.
  • Pipeline imports to Europe from Norway are still down at 224.4mcm/d today due to ongoing maintenance and numerous fields and processing plants.
  • TTF JUL 23 up 2.4% at 25.47€/MWh

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