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TTF Higher on Cooler Weather and Norwegian Field Outages

NATURAL GAS

TTF is rallying from the lowest since 23 March seen on Friday as the weather forecast for NW Europe has tuned cooler than previously expected this week and with reduced Norwegian imports. Temperatures are now expected to hold near normal this week and will be accompanied by reasonable wind generation.

    • TTF MAY 23 up 2.5% at 42.17€/MWh
    • TTF WIN 23 up 2.8% at 57.65€/MWh
    • TTF SUM 24 up 2.9% at 55.8€/MWh
  • Norwegian imports are today lower at 306.8mcm/d with maintenance at several facilities including Troll, Kollsnes and Ormen Lange expected this week.
  • European gas storage injections have started the season near normal levels to maintain total European storage over 20 percentage points above the five year average. Storage was at 56.32% on 15 Apr according to GIE data.
  • LNG imports into Europe are strong with supplies to NW Europe around similar levels to imports seen this time last year. Strike disruption in France has gradually eased allowing the return of LNG terminals to operation. Total European sendout was around 434mcm/d on 15 Apr compared to the average of 415mcm/d in March.
  • Gas transit flows through Ukraine are today nominated at 40.8mcm/d and Algeria gas flow to Italy at Mazara are at 80.5mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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