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TTF Eases Back Near to Flat on the Week

NATURAL GAS

TTF eases lower after gains yesterday with steady European supplies and high storage weighed against colder weather next week and supply risks due to Middle East tensions.

    • TTF FEB 24 down -1.8% at 32.8€/MWh
    • TTF SUM 24 down -1.8% at 32.5€/MWh
    • TTF WIN 24 down -1.6% at 36.85€/MWh
  • Temperatures in NW and central Europe are forecast to drop below normal over the coming weekend but could recover back closer to normal towards the middle of Jan.
  • European natural gas storage was down to 85.86% full on Jan 3 according to GIE data but remains well above the seasonal five year average of 73.1%.
  • European LNG sendout was relatively unchanged at 338mcm/d on Jan 3 but low compared to an average of around 390mcm/d this time last year.
  • Norwegian pipeline supplies to Europe are up to 353.8mcm/d and back in line with recent levels after a dip yesterday due to an unplanned outage at Aasta Hansteen. Flows could dip slightly with a panned outage at Karsto Jan 8-13.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara have recovered slightly back up to 45.65mcm/d.
  • ICE TTF daily aggregate traded futures volumes were yesterday up to 231k.
Energy BulletsCommodities
Energy BulletsCommodities

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