May 29, 2024 07:02 GMT
TTF Holds After Recent Slip
NATGAS
Front month TTF is holding steady on Wednesday, having erased some recent gains on Tuesday following higher Norwegian flows and strong seasonal gas levels.
- Norwegian nominated flows to the UK and Northwest Europe terminals at 287.90 mcm/d vs 5-day moving avg 280.32 mcm/d according to Gassco.
- European gas storage was 69% full on May 27 vs the 5-yr seasonal norm of 56% for this time of year according to GIE.
- LNG flows to Northwest Europe on May 27 were 144.04 mcm/d, 98% lower than the 30 day average. US liquefied natural gas exports are currently more profitable to Asia in July, August and September.
- Brunei LNG is working on restarting its onshore compressor plants following an outage on May 20, the company said Tuesday.
- Another LNG vessel looks set to discharge its cargo in Jordan to send the gas into Egypt prior to its FSRU arriving for more direct imports.
- Eni's Congo LNG project looks to be loading its second ever cargo with the Gaslog Savannah back in location at the west African project according to ICIS vessel tracking.
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