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TTF Higher on Cooling Weather Next Week and Norwegian Outages

NATURAL GAS

The expectation of cooler weather and reduced Norwegian supplies are boosting European gas markets with TTF front month back above 100€/MWh.

    • TTF DEC 22 up 4% at 101.8€/MWh
  • Weather forecasts for NW Europe are showing a fall in temperatures down to near normal levels from the coming weekend and Central and Eastern Europe are expected to see temperature slightly below normal. Recent early winter warm weather has eased the pressure on current winter supply risks.
  • Process issues at the Norwegian fields of Visund and Asgard are restricting output down to 307.8mcm/d today compared to around 314mcm/d last week and as much as 330mcm/d in early October.
  • Net LNG imports into Europe averaged 420mcm/d last week and European storage levels are holding steady at 95.51%. Gas supply via Ukraine is stable at 42.4mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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