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TTF Higher on LNG Supply Concerns

NATURAL GAS

TTF has edged back above 40€/MWh supported by supply risks and despite the high end of season storage levels.

  • LNG supplies could be impacted by restricted production due to loading issues at Angola LNG and extended French LNG disruption with deliveries into three terminals blocked until 27 March.
  • The US Freeport LNG export terminal has also reduced planned output with part of a production train damaged during restart as the export facility struggles to resume full operations.
  • European LNG sendout is currently strong with net flows into NW Europe back up from 192mcm/d on 12 March to 279mcm/d yesterday.
    • TTF APR 23 up 4.8% at 41.2€/MWh
    • TTF SUM 23 up 4.3% at 42.1€/MWh
    • TTF WIN 23 up 4% at 50.2€/MWh
    • TTF SUM 24 up 4.5% at 48.15€/MWh
    • TTF WIN 24 up 3.9% at 50.05€/MWh

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