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TTF Higher as Norwegian Supply Curtailed by Maintenance

NATGAS

TTF front month is trading higher today with support from a drop in Norwegian gas supplies amid planned maintenance and with a slightly cooler weather forecast in the second week of the outlook.

    • TTF MAY 24 up 1.9% at 28.97€/MWh
    • TTF Q3 24 up 1.8% at 29.63€/MWh
    • TTF WIN 24 up 1.6% at 34.42€/MWh
  • Temperatures in NW and central Europe are expected to warm in the coming days and back above normal from April 28. The start of May is expected to start warm but temperatures could tail off back towards normal during the first week of the month.
  • Norwegian pipeline supplies to Europe are today nominated down to 315.4mcm/d with planned outages at Aasta Hansteen and Nyhamna adding to maintenance at Dvalin and Karsto. Planned maintenance capacity reductions are expected to peak at 101.7mcm/d on April 27.
  • European gas storage has remained almost unchanged since April 16 with GIE data showing a net withdrawal on Apr. 22 talking stocks to 62.01% full. Total EU storage however remains just above the previous five year range.
  • European LNG sendout was up to 347mcm/d on April 22 compared to an average of 334mcm/d so far in April.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 66.3mcm/d.
  • ICE TTF daily aggregate traded futures volume was down at 299k on Apr. 23.
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TTF front month is trading higher today with support from a drop in Norwegian gas supplies amid planned maintenance and with a slightly cooler weather forecast in the second week of the outlook.

    • TTF MAY 24 up 1.9% at 28.97€/MWh
    • TTF Q3 24 up 1.8% at 29.63€/MWh
    • TTF WIN 24 up 1.6% at 34.42€/MWh
  • Temperatures in NW and central Europe are expected to warm in the coming days and back above normal from April 28. The start of May is expected to start warm but temperatures could tail off back towards normal during the first week of the month.
  • Norwegian pipeline supplies to Europe are today nominated down to 315.4mcm/d with planned outages at Aasta Hansteen and Nyhamna adding to maintenance at Dvalin and Karsto. Planned maintenance capacity reductions are expected to peak at 101.7mcm/d on April 27.
  • European gas storage has remained almost unchanged since April 16 with GIE data showing a net withdrawal on Apr. 22 talking stocks to 62.01% full. Total EU storage however remains just above the previous five year range.
  • European LNG sendout was up to 347mcm/d on April 22 compared to an average of 334mcm/d so far in April.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 66.3mcm/d.
  • ICE TTF daily aggregate traded futures volume was down at 299k on Apr. 23.