August 17, 2022 07:32 GMT
TTF gas is ticking back up after a volatile day yesterday saw front month prices peak at a record 251€/MWh before falling back late in the day.
- TTF SEP 22 up 1% at 228.11€/MWh
- European gas continues to be supported be low supplies from Russia and hot weather impacting higher demand. Hot weather has resulted in high cooling demand combined with concerns for the transportation of diesel and coal potentially adding to gas usage. European nations are trying to reduce gas consumption with voluntary EU targets of a 15% reduction before winter.
- Russian supply is once again stable with Nord Stream nominated at 31.9mcm/d and transit via Sudzha in Ukraine at 42.2mcm/d.
- Norwegian supply is running slightly down at 318.8mcm/d with reduced capacity at Troll and Kollsnes until the end of the month.
- High LNG imports are helping to maintain slightly above normal injections into European storage with the level now over 75% full.