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TTF Edges Higher Amid Norway Outages

NATURAL GAS

TTF edges higher to recover from a low of 24.25€/MWh yesterday with support from slightly lower Norwegian pipeline supplies due to outages.

    • TTF APR 24 up 2% at 25.27€/MWh
    • TTF SUM 24 up 1.6% at 25.55€/MWh
    • TTF WIN 24 up 1.3% at 29.57€/MWh
  • Above normal temperatures are forecast to persist across Europe especially in central areas. The two week forecast suggests slightly cooler temperatures closer to normal are possible into the last week of March.
  • European gas storage was 60.34% full on Mar. 11 according to GIE data after withdrawals increased following the low levels over the weekend. The seasonal five year average is 43.0% and storage was 56.6% full this time last year.
  • Norwegian pipeline supplies to Europe are today nominated down at 332.3mcm/d amid small, planned outages at Karsto, Kristin, Sleipner and Oseberg today.
  • European LNG sendout was at 358mcm/d on Mar. 11 and in line with the average so far in March of 361mcm/d.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are today at 61.05m/d.
  • ICE TTF daily aggregate traded futures volume was yesterday down to 237k.

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