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TTF Declines with Warm Weather Expected in NW Europe

NATURAL GAS

Front month TTF has opened below the lows from last week with expectation of low demand this month and steady supplies. Weather forecasts for most of Europe are showing above normal temperatures throughout the rest of February.

    • TTF MAR 23 down -3.6% at 52€/MWh
    • TTF SUM 23 down -3.6% at 53.58€/MWh
  • Norwegian flows into Europe have recovered to 338.1mcm/d today after falling on Friday due to an outage at the Troll field due to process problems.
  • Despite the low demand this winter LNG supplies to Europe have remained well above previous years to help ease energy security concerns and maintain high gas storage levels. Total LNG imports to Europe were up to 480mcm/d mid last week due to a few days of slightly higher demand and below normal temperatures in NW Europe.
  • Russian gas supplies via Ukraine are unchanged at 30.8mcm/d.
  • European gas in storage is at 66.93% according to GIE data from 10 Feb compared to the five year average of 47.3%. Germany was at 73.39% full, Italy at 66.75, France at 55.14% and Netherlands at 65.35%.
Energy BulletsCommodities
Energy BulletsCommodities

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