January 26, 2023 07:54 GMT
TTF Holding Near Lows on Mild Weather Next Week
NATURAL GAS
Front month TTF trading near the lowest since Sep 2021 as warm weather forecasts help to maintain low demand this winter and with high storage levels, steady LNG supply and higher wind power generation next week.
- TTF FEB 23 down -1.2% at 56€/MWh
- TTF SUM 23 down -0.8% at 58€/MWh
- Milder than normal weather is expected across most of Europe next week with temperatures in NW Europe moving above normal over the coming weekend.
- Norwegian imports flows are slightly lower today at 314.2mcm/d as planned field outages reduced capacity compared to about 340mcm/d seen at the start of the month.
- Russian gas supplies flowing through Sudzha in Ukraine are unchanged at 24.2mcm/d.
- European gas in storage is at 76.35% according to GIE data from 24 Jan showing Germany at 83.75%, Italy at 75.01, France at 70.68% and Netherlands at 71.46%.
- LNG import supplies to Europe have averaged around 460mcm/d over last week up from 400mcm/d the previous week to cover the higher demand during the current cold spell.
167 words