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Ongoing Warm Forecast Eases Upside Pressure On TTF

NATURAL GAS

European gas opens just below close levels after falling on the week with temperatures for much of Europe recovering back above normal after a period of cold in the coming few days.

    • TTF DEC 22 down -1.4% at 111€/MWh
  • Norwegian supplies are slightly higher today at 313.9mcm/d up from below 300mcm/d at the start of the week but are still below October levels due to field outages. Nominations for supply through Sudzha in Ukraine at steady at 42.4mcm/d.
  • LNG supplies to Europe remain strong with total net imports largely unchanged over the last couple of weeks at around 430mcm/d on Nov 15.
  • Warm weather has eased supply pressures and delayed the start of the heating season enabling storage to remain up at 95.38% as of Nov 16.
Energy BulletsCommodities
Energy BulletsCommodities

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