Free Trial

Tight Supply Pushes TTF to 300€/MWh


TTF front month this morning traded over 300€/MWh as fear of tight supply drives prices higher.

  • TTF SEP 22 up 2.5% at 299.4€/MWh
  • TTF WIN 22 up 3.1% at 304€/MWh
  • The ongoing reduction in supply from Norway is adding to the concern that Russia supplies through Nord Stream will not return following 3 days on maintenance from Aug 31. Output from Norway is today at 313.2mcm/d with capacity reductions at Troll and Kollsnes extended into next week.
  • Russian supply is today steady with nominations for 31.97mcm/d through Nord Stream and flows through Sudzha in Ukraine unchanged at 42.2mcm/d.
  • EU continues attempts to reduce consumption, for example Germany has approved energy saving measures to limit lighting and heating in public buildings. High prices are impacting demand with chemicals and fertilizers companies in Poland and Lithuania suspending some production due to the high prices.
  • High LNG imports are so far maintaining injections into European storage but reaching target levels ahead of winter could prove difficult with a halt to Nord Stream flows. EU storage is up to 78.05% full with Germany at 81.07%, Italy at 80.11%, France at 90.06% and Netherlands at 73.34%.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.