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TTF Edges Back Up After 14% Fall Yesterday

NATURAL GAS

European gas opens slightly higher after falling 14% yesterday due to steady supplies into Europe and high storage levels.

    • TTF FEB 23 up 2.8% at 56.99€/MWh
  • Gas demand has been well below normal so far this winter partly due to the very warm weather and high wind power output although a period of colder temperatures this week is providing support to prices. NW Europe is expecting below normal temperatures this week before warming back to normal in the second week of the forecast.
  • Slower than normal European storage withdrawals continue with total stocks down to 81.49% on 15 Jan compared to the five year average of 62.32%. Gas in store in Germany is at 90.38 full, Italy at 79.02%, France at 79.2% and Netherlands at 75.63%.
  • Norwegian imports have dipped again today to 330mcm/d with several small outages planned before the end of the month.
  • LNG supplies averaged 400mcm/d over the week to 14 Jan. An outage at EemsEnergy Terminal is expected to result in no sendouts until 30 Jan.
  • Russian gas supplies transit through Ukraine at today estimated lower at 32.6mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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