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TTF Extends Gains as Hammerfest Halts to Repair Gas Leak

NATURAL GAS

Front month TTF extends gains as disruption to Hammerfest LNG and rising price spreads to Asia highlight the risks to European supplies and dependency on LNG imports.

  • Front month is trading up 13% on the day but moves in future seasons are more muted with winter prices spreads still favouring Europe over Asia.
  • Equinor’s Hammerfest LNG plant has been partly evacuated following a gas leak. LNG production has been halted to repair the leak but the size of the leak and length of the stoppage is unknown.
    • TTF JUL 23 up 13.5% at 28.66€/MWh
    • TTF WIN 23 up 4.4% at 43.55€/MWh
    • TTF SUM 24 up 4.4% at 44.45€/MWh
    • TTF WIN 24 up 3.7% at 48.1€/MWh

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