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TFF Remains Weak Friday

NATURAL GAS

TTF has edged away from its lows this week, which were the weakest since July 2021. Below normal demand and strong LNG imports are weighing on prices with muted LNG competition from Asia. The current Norway maintenance and low wind generation are both providing some support.

  • TTF JUN 23 down -1% at 38.81€/MWh
  • TTF WIN 23 down -0.3% at 56.5€/MWh
  • Temperatures in northwest Europe are expected to vary either side of normal in the coming week but the Iberian Peninsula is still expecting strongly above normal temperatures.
  • Net European LNG import flows have been strong throughout April averaging 455mcm/d so far and were up at 519mcm/d on 25 April.
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 295.40 mcm/d vs 5-day moving avg 290.02 mcm/d: Gassco
  • European gas storage was 59% full on April 26 vs the 5-yr seasonal norm of 39% for this time of year: GIE
Energy BulletsCommodities
Energy BulletsCommodities

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