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TTF Falls to Lowest Since August 2021

NATURAL GAS

TTF opens down on the day to trade through 50€/MWh and the recent lows to reach the lowest since August 2021. High gas storage levels and healthy supplies are enough to cover the below normal demand.

    • TTF MAR 23 down -3.3% at 50.3€/MWh
    • TTF SUM 23 down -3.2% at 51.5€/MWh
    • TTF WIN 23 down -2.2% at 59.05€/MWh
  • The latest weather forecast is holding temperatures just around normal in the last few days of Feb after falling back from the current above normal levels. The German gas regulator chief yesterday said gas savings were 17% below normal last week.
  • Lower LNG imports remain an upside risk with increased interest from price-sensitive South Asia buyers due to the declining spot prices. EU LNG sendout remains steady at just below 450mcm/d on 14 Feb supported by the return of the supplies form Algeria's 4.5mtpa Skikda plant.
  • Norwegian imports have dipped down to 313.7mcm/d today due to disruption to supplies from Aasta Hansteen. The timing of the return of the field is uncertain but the outage is expected to continue into the weekend. Oseberg maintenance for next week have been cancelled.
  • European gas storage is down to 64.81% full on 15 Feb according to AGSI data and Ukraine gas transit is up to 35.8mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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