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TTF Falls After Russia Decide Not to Cut Ukraine Transit Flows

NATURAL GAS

TTF softer with mixed weather forecasts for Europe and steady gas import supplies with no interruption to Ukraine transit flows.

    • TTF DEC 22 down -2.3% at 121.5€/MWh
    • TTF SUM 23 up 0.5% at 131.5€/MWh
  • Gazprom have this morning stated they have decided not to cut gas flow towards Moldova after they paid for the gas imbalance in Ukraine. Gazprom previously warn of a reduction of supplies because the volume of gas supplied for transit to Moldova via Ukraine exceeds the volume transmitted at the Ukraine-Moldova border. Russian gas supplies transit via Ukraine are today expected at 42.2mcm/d.
  • Norwegian imports remain strong at 327.1mcm/d while net LNG import flows to Europe were at 451mcm/d on Nov 25.
  • European gas in storage is at 93.94% according to GIE data from Nov 26 showing Germany at 98.79%, Italy at 92.78%, France at 98.03% and Netherlands at 89.96%.
  • Weather forecasts show temperatures in NW Europe falling below normal in the first week of December but with temperatures holding around normal for the second week of the two week outlook.

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