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TTF Falls As Warm Temperatures Ease Demand Fears

NATURAL GAS

The latest weather forecast shows warm weather in NW Europe extending into November helping to ease tight market concerns heading into the winter heating season. TTF front month earlier this morning fell back to 100€/MWh for the first time since June.

    • TTF NOV 22 down -10.6% at 101.5€/MWh
  • The warm weather has combined with high storage levels, steady supplies from LNG imports and EU measures to combat the energy crisis to bring prices down from record levels seen in August.
  • Norwegian supply is today nominated at 324.4mcm/d while gas transit via Ukraine is unchanged at 42.6mcm/d. Net LNG imports into Europe averaged approximately 384mcm/d last week.
  • European storage is up at 93.43% full as at Oct 22 with Germany at 97.18%, Italy at 94.67%, France at 99.51% and Netherlands at 92.5%.

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