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TTF Eases Back From Yesterday's Gains

NATURAL GAS

European gas is easing back from the gains seen yesterday with a mixed temperatures forecast for NW Europe, ongoing Norwegian maintenance and slightly lower wind generation offset by strong LNG supplies and healthy storage.

    • TTF MAY 23 down -0.8% at 42.38€/MWh
  • Temperatures in NW European are forecast to fall well below normal next week after holding just above over the coming weekend. Temperatures are then expected to return to normal towards the end of the month.
  • The current Norwegian maintenance could restrict gas availability with works expected into the first week of May. Norwegian imports are today nominated at 306mcm/d compared to around 340mcm/d at the start of April.
  • LNG imports into Europe are strong up at 491mcm/d on 17 Apr compared to around 430mcm/d seen in the first half of April and 416mcm/d in March.
  • European gas storage is at 56.66% on 17 Apr according to GIE data with a slightly slow start to the summer injection season.
  • Gas transit flows through Ukraine are today nominated unchanged at 41.7mcm/d and Algeria gas flow to Italy at Mazara are up at 83.3mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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