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TTF Gronigen Spike Sells Off

NATURAL GAS

The earlier TTF spike on Groningen’s closure headlines has subsequently sold off after spiking near 50€/MWh.

  • Gronigen production has been in steady decline with intentions for it to close but the Dutch government has toyed with the idea of it remaining open for an energy emergency.
  • TTF was already surging higher driven by tighter market concerns and short covering on the back of extended Norway maintenance and warm weather in Europe expected to increase cooling demand.
  • TTF JUL 23 up 3.4% at 39.61€/MWh
  • TTF WIN 23 up 2.8% at 54.5€/MWh

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