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TTF Holding Steady on Mixed Weather and Stable Supplies

NATURAL GAS

European gas holding steady with returning Norwegian output, healthy LNG supplies and weather forecasts returning above normal in the coming days.

    • TTF DEC 22 down 0% at 115.5€/MWh
  • Norwegian supplies are today nominated back up to 338.9mcm/d although a small restriction remains at Oseberg due to planned maintenance. The field is due for a halt to operations for one day on Nov 24 reducing supply by 26mcm/d.
  • LNG supplies averaged 422mcm/d in the week to Nov 18 with prices encouraging deliveries to Europe over Asia. Congestion outside NW Europe LNG terminals has eased as some floating storage volumes have unloaded over the last week. Gas supplies transit via Sudzha in Ukraine are today at 42.4mcm/d.
  • Temperatures in NW Europe are forecast to move back above normal this week before drifting back lower again at the end of the month.
  • European storage is holding up at 95.17% full compared to the five year average of 86% for this time of year.
Energy BulletsCommodities
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