January 27, 2025 08:08 GMT
NATGAS: TTF Drifts Lower Amid Mild Weather This Week
NATGAS
TTF drifts lower amid a reduction in storage withdrawals as mild weather across Europe eases demand pressures and despite a dip in Norwegian pipeline gas supply over the weekend.
- Temperatures are forecast to remain above normal across much of Europe this week although temperatures in NW Europe are expected to drift slightly lower in the next couple of days.
- Norwegian pipeline supplies to Europe are nominated at 329.9mcm/d today, according to Bloomberg after falling to 319mcm/d yesterday amid unplanned process problems at Troll currently expected until Tuesday.
- European gas storage has fallen to 56.1% full on Jan. 25, according to GIE, compared to the previous five year average of 63.8%. Withdrawal rates are back below normal after the strong levels seen from Jan. 13-22.
- European LNG sendout was down to 338mcm/d into the weekend on Jan. 25 compared to an average of 375mcm/d so far in January.
- Algeria gas flows to Italy at Mazara are up to the highest since November at 62.1mcm/d today, according to Bloomberg.
- ICE TTF daily aggregate traded futures volume was 368k on Jan. 24.
- TTF FEB 25 down 1.4% at 49.03€/MWh
- TTF SUM 25 down 1.2% at 49.13€/MWh
- TTF WIN 25 down 1.6% at 44€/MWh
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