TTF Edges Higher On Colder Outlook For April

European gas markets have been recovering throughout the day as latest weather forecasts point to colder weather below the seasonal norm for the first week in April and headlines suggesting Europe could block Russian LNG imports.

• Weather forecasts suggest temperatures below the seasonal norm for the first ten days in April.
• Latest headlines suggest Europe could look to block Russian LNG imports that have been surging since Russia’s invasion into Ukraine.
• European gas storages stood at 56.02% of capacity on 26 March, following five consecutive days of net injections. The five-year average stood at 34% of capacity.
• All four of France’s LNG terminals are scheduled to return on Wednesday. However, concerns remain whether strikes will be further extended. Elengy’s three LNG terminals have been offline since 6 March, while the Dunkerque terminal is scheduled to operate at reduced capacity of 70 GWh/d for 24 hours starting 28 March 06:00 CET.
• TTF APR 23 up 0.7% at 42.83€/MWh
• TTF SUM 23 up 0.3% at 43.31€/MWh
• TTF WIN 23 up 0.6% at 51.55€/MWh