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TTF Extends Decline as Warm Weather Eases Supply Fears


European gas extends the decline to the lowest since June as warm weather, high storage levels and strong LNG supplies ease the short-term supplies.

    • TTF NOV 22 down -1.5% at 111.5€/MWh
  • The weather forecast for NW Europe shows temperatures well above normal throughout the two-week forecast period easing early heating season demand.
  • European storage is up to 92.37% full as at Oct 16 with Germany at 96.03%, Italy at 94.08%, France at 98.91% and Netherlands at 93%.
  • Norwegian supplies have dipped slightly due to reduced output at Troll and other smaller fields. Nominations are today at 314.4mcm/d compared to around 325 last week. Russian gas transit through Ukraine is unchanged today at 42.4mcm/d.

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