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TTF Holds Gains as Market Wary of Supply Risks

NATGAS

TTF is holding steady today after gains yesterday as the market remains wary of supply risks and competition for LNG supplies from Asia.

  • Norwegian pipeline supplies to Europe are today steady at 327.8mcm/d with ongoing Visund field works reducing capacity by 15.4mcm/d and a 12.6mcm/d capacity reduction at Karsto.
  • European LNG sendout remains low at 231mcm/d on June 9 according to Bloomberg compared to about 385mcm/d this time last year.
  • Temperatures in NW and central Europe are forecast to gradually increase over the coming week to return above normal into the second half of June.
  • Total European gas storage was up to 71.75% full on June 9 according to GIE compared to the five year seasonal average of 60.6% with net injection rates still below normal.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 56.1mcm/d.
  • ICE TTF daily aggregate traded futures volume was down at 236k on June 10.
    • TTF JUL 24 up 0.6% at 34.45€/MWh
    • TTF Q3 24 up 0.5% at 34.85€/MWh
    • TTF WIN 24 up 0.1% at 38.6€/MWh
    • TTF SUM 25 down 0% at 35.76€/MWh
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