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TTF Edges Higher As Norway Outages Weighed against Mild Weather

NATURAL GAS

TTF front month edges higher with extra Norwegian outages supporting prices despite the lack of cold weather in the forecast and with high storage levels.

    • TTF OCT 23 up 2.7% at 40.35€/MWh
    • TTF WIN 23 up 1.9% at 46.9€/MWh
    • TTF SUM 24 up 1.3% at 47.8€/MWh
  • Norwegian pipeline supplies to Europe are today nominated at 231.5mcm/d with an Asgard outage of 8.7mcm/d today announced this morning. Outages are expected to fall from 102mcm/d today to 63mcm/d by the weekend and to 34mcm/d on 8 Oct according to Gassco.
  • European natural gas storage is up to 95.19% full on 26 Sep according to GIE data compared to the five year average of 86.8%.
  • LNG sendout to Europe is up to 291mcm/d on 26 Sep from as low as 236mcm/d on 23 Sep but still well below levels around 370mcm/d seen this time last year.
  • The latest weather forecast is still showing above normal temperatures across Europe throughout the next two weeks although does cool slightly into week two.
  • Gas transit flows through Ukraine are steady at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are still strong at 79.2mcm/d today.

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