December 09, 2022 07:55 GMT
TTF Edges Lower With Recovering Norwegian Supplies
TTF is drifting lower with recovering Norwegian supply but cold weather is persisting for northern areas of Europe beyond the middle of the month.
- TTF JAN 23 down -2.4% at 135.57€/MWh
- TTF SUM 23 down -1.9% at 137.16€/MWh
- TTF WIN 23 down -1.3% at 135.01€/MWh
- The increased heating demand is encouraging record LNG imports into Europe with total European imports up at 520mcm/d on Dec 6.
- Norwegian supplies are today back up to 326mcm/d although small capacity reductions are expected to continue at Oseberg and Karsto until tomorrow.
- Russian gas supplies flowing through Sudzha in Ukraine are again stable at 42.2mcm/d.
- European gas in storage is at 89.93% according to GIE data from Dec 7 showing Germany at 95.53%, Italy at 88.97, France at 92.17% and Netherlands at 85.75%.
- EU members are yet to agree over measures to cap gas prices ahead of the ministers meeting on Dec 13. Yesterday six members including Germany and the Netherlands expression their opposition to a lower price cap and to extending the proposal to include OTC and short term markets.