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TTF Higher with No Agreement on EU Gas Measures

NATURAL GAS

European gas is higher again today after rallying yesterday with ongoing supply issues and no agreement from EU members for caps on gas imports prices.

    • TTF OCT 22 up 2.3% at 223€/MWh
  • EU measures announced yesterday include power demand reduction obligations, a revenue cap on inframarginal electricity producers and a contribution from excess energy profits. Discussions regarding a possible new gas benchmark and measures to assist liquidity are ongoing.
  • Today Norwegian supply is still below normal due to maintenance with nominations at 268.3mcm/d. Russian gas supply through Ukraine is stable at 42.4mcm/d.
  • LNG supplies into NW Europe have dipped in recent days but still well above normal. The new LNG terminal at Eemshaven is expected to receive two cargoes early next week before starting flows into the grid.
  • European storage continues to fill faster than normal with stocks now 84.49% full.
Energy BulletsCommodities
Energy BulletsCommodities

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