November 15, 2023 08:07 GMT
TTF Higher Amid Concern Heating Demand
TTF is pushing up towards the highs from last week of 49.185€/MWh driven by the threat of an increases in demand due to slightly cooler weather later this month.
- TTF DEC 23 up 1.2% at 48.2€/MWh
- TTF Q1 24 up 1.1% at 49.84€/MWh
- TTF SUM 24 up 0.9% at 48.2€/MWh
- NW and central Europe are expecting temperatures to drop at the end of this week followed by a slight recovery back above normal but with temperatures generally closer to normal in the last week of the month.
- European LNG sendout has increased in early November up from around 360mcm/d at the start of the month to average 440mcm/d in recent days.
- Norwegian pipeline supply to Europe is today almost unchanged from yesterday at 337.4mcm/d with an outage at Oseberg amid process problems and with uncertain duration.
- European natural gas storage was back up to 99.42% full on Nov 12 according to GIE data after small net withdrawals yesterday and compared to the five year average of 89.4%.
- Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are today at 54.0mcm/d.
- ICE TTF daily aggregate traded futures volumes were at 222k yesterday.