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TTF Higher Supported by LNG Supply Risks

NATURAL GAS

European gas has opened higher today as the market continues to balance the warm weather and low heating demand this week against LNG import supply concerns. Strikes continue to disrupt arrivals at French LNG terminals expected until 21 March and with upside risks from more Asian buying.

    • TTF APR 23 up 2.5% at 45.46€/MWh
    • TTF SUM 23 up 2.5% at 46.38€/MWh
    • TTF WIN 23 up 2.7% at 53.8€/MWh
  • LNG import flows to Europe have dropped this week down to 379mcm/d on 14 Mar from over 500mcm/d at the start of the month.
  • Norwegian supplies are relatively unchanged today at 326.8mcm/d as field maintenance is expected to continue into next week. Gas transit flows through Ukraine are today nominated at 42.4mcm/d and Algeria gas flow to Italy at Mazara are 66.4mcm/d
  • European gas in storage is still at the top of the five year range at 55.84% according to GIE data from 15 Mar compared to the five year average of 35.7% with withdrawals near normal. Germany is at 63.89% full, Italy at 56.5%, Netherlands at 57.61%, Austria at 66.16% and France down to 30.1%.
Energy BulletsCommodities
Energy BulletsCommodities

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