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TTF Edges Up with a Cooler End to Feb

NATURAL GAS

TTF is edging up from the lowest since August 2021 with higher demand expected in the coming week due to cooler weather and moderate wind generation.

    • TTF MAR 23 up 1.5% at 49.25€/MWh
    • TTF SUM 23 up 2% at 50.25€/MWh
  • Net LNG import flows to Europe are steady at just over 400mcm/d. Competition for LNG supplies is an upside risk to European gas markets with low Northeast Asia prices encouraging increased buying interest. The JKM-TTF spread is however back into negative territory with TTF holding stronger than JKM to help support European supplies.
  • Imports from Norway are strong with today’s nomination of 341.6mcm/d. Planned maintenance at various fields could reduce output slightly at times during March.
  • European gas storage levels are down to 63.74% on 20 Feb full with near normal withdrawals keeping stocks well above the five year average of 42.8%.
  • Gas supply via Ukraine is back up near to levels seen at the start of the year at 42.1mcm/d today.
Energy BulletsCommodities
Energy BulletsCommodities

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