Free Trial

TTF Down on the Day despite LNG Strike Risks

NATURAL GAS

TTF remains down on the day having earlier today bounced off the low of 33.55€/MWh seen last week. The European gas prices has not reacted despite risks that strike action at Chevron LNG facilities in Australia could escalate or be extended if no agreement can be reached.

  • Workers at Chevron’s Gorgon and Wheatstone LNG facilities plan to increase industrial action to strike for up to 24 hours a day as of 14 September according to Bloomberg sources. Workers from both facilities plan to begin industrial action of up to 11 hours per day from 7-13 September.
  • The front month JKM-TTF spread is holding up at 2.25$/mmbtu today with US netbacks to Asia more profitable than to Europe in Oct and Nov.
    • TTF OCT 23 down -4.1% at 34.15€/MWh
    • TTF WIN 23 down -2.1% at 47.5€/MWh
    • TTF SUM 24 down -1% at 50.66€/MWh

To read the full story

Close

Why MNI

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.