TTF Edges Higher Amid Dip in Norwegian Supply

TTF front month edges higher to recover from a low of 25.18€/MWh earlier this week with support from a drop in Norwegian pipeline supplies ahead of further planned works at the end of this month.

• TTF MAY 24 up 1.2% at 26.52€/MWh
• TTF Q3 24 up 1.1% at 27.2€/MWh
• TTF WIN 24 up 1% at 31.45€/MWh
• TTF SUM 25 up 1% at 30.14€/MWh
• Norwegian pipeline supplies to Europe are today nominated down to 344.7mcm/d with unplanned process problems at Gullfaks adding to the ongoing planned outage at Kasto.
• The NW and central European weather forecast is showing temperatures well above normal in the coming days before gradually cooling into the middle of the month. The current forecast suggest closer to normal temperatures could be expected from around Apr. 17.
• European LNG sendout was up to 349mcm/d on Apr. 3 after falling as low as 264mcm/d over last weekend.
• European gas storage was up to 59.44% full on Apr. 3 according to GIE after the start of net injections last week. The seasonal five year average is 42.2% full with last year at 55.9%.
• Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are still high at 76.6mcm/d.
• ICE TTF daily aggregate traded futures volume was yesterday at 243k.