Free Trial

TTF Extends Gains Amid LNG and Norway Supply Risk

NATURAL GAS

TTF front month regains ground back up over 34€/MWh amid ongoing supply risk into Europe. Disruption to Australia LNG output remains a threat to global LNG supplies and competition for supplies from Asia.

  • Offshore Alliance members have endorsed an in-principle agreement with Woodside Energy but unions at Chevron's LNG facilities in Australia on Friday warned of stoppages if demands over wages and conditions were not met.
  • Pipeline gas supplies to Europe are dropping due to the start of seasonal Norwegian maintenance. The main outages are expected to last for the next ten days before seeing a gradual reduction in outages throughout September.
  • The US LNG netbacks remain in favour of supply to Asia over Europe while the Sep JKM-TTF spread is holding around 1.4$/mmbtu according to Bloomberg.
    • TTF SEP 23 up 7.6% at 34.36€/MWh
    • TTF WIN 23 up 3.4% at 48.93€/MWh
    • TTF SUM 24 up 2.8% at 50.82€/MWh
    • TTF WIN 24 up 2.5% at 54.27€/MWh

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.