TTF Edges Higher With Stable Supplies and Storage Injections

European gas markets are edging slightly higher today with stable supplies allowing storage injections despite ongoing disruption to French LNG imports and small outages to Norwegian imports.

• TTF APR 23 up 0.6% at 41.35€/MWh
• TTF SUM 23 up 0.9% at 42.55€/MWh
• TTF WIN 23 up 1.2% at 51€/MWh
• The latest weather forecast shows warm temperatures in Europe this week before falling back below normal into next week. Total European natural gas storage is today at 56.04% according to GIE data for 25 March compared to the five year average of 34.1 after injections from late last week.
• Total European LNG sendout averaged just over 400mcm/d last week with industrial action at French terminals continuing to cause cargo diversions within Europe. Elengy’s three LNG terminals are currently expected to remain offline until 28 March.
• Norwegian imports are today at 331.1mcm/d with a small reduction at Troll and Gullfaks and reduced flow from Aasta Hansteen expected this week.
• Gas transit flows through Ukraine are today nominated slightly lower at 40.0mcm/d and Algeria gas flow to Italy at Mazara are steady at 67.9mcm/d.