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NATGAS: TTF Holds Just Below Peak Amid Gas Storage Risks

NATGAS
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TTF front month is holding just below the high of €58.75/MWh yesterday with cold weather expected to boost heating demand and add extra risk to low gas storage levels while increased Ukrainian imports are also supportive.

  • Colder than normal temperatures are expected across much of Europe in the coming two weeks with temperatures in NW Europe and wind generation both reducing over the coming days.
  • Norwegian pipeline supplies to Europe are nominated down slightly to 328.8mcm/d with an unplanned outage at Oseberg reducing capacity by 7mcm/d today, Gassco shows.
  • European gas storage has fallen to 48.48% full on Feb. 9, according to GIE, compared to the previous five year average of 56.6% while withdrawal rates are near normal on the day.
  • European LNG sendout has reduced slightly to 417mcm/d on Feb. 9 after reaching levels over 450mcm/d last week, according to Bloomberg.
  • Algeria gas flows to Italy at Mazara are today at 59.1mcm/d, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 445k on Feb. 10.
    • TTF MAR 25 down 0.8% at 57.56€/MWh
    • TTF SUM 25 down 0.4% at 56.76€/MWh
    • TTF WIN 25 down 0.5% at 51.41€/MWh
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TTF front month is holding just below the high of €58.75/MWh yesterday with cold weather expected to boost heating demand and add extra risk to low gas storage levels while increased Ukrainian imports are also supportive.

  • Colder than normal temperatures are expected across much of Europe in the coming two weeks with temperatures in NW Europe and wind generation both reducing over the coming days.
  • Norwegian pipeline supplies to Europe are nominated down slightly to 328.8mcm/d with an unplanned outage at Oseberg reducing capacity by 7mcm/d today, Gassco shows.
  • European gas storage has fallen to 48.48% full on Feb. 9, according to GIE, compared to the previous five year average of 56.6% while withdrawal rates are near normal on the day.
  • European LNG sendout has reduced slightly to 417mcm/d on Feb. 9 after reaching levels over 450mcm/d last week, according to Bloomberg.
  • Algeria gas flows to Italy at Mazara are today at 59.1mcm/d, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 445k on Feb. 10.
    • TTF MAR 25 down 0.8% at 57.56€/MWh
    • TTF SUM 25 down 0.4% at 56.76€/MWh
    • TTF WIN 25 down 0.5% at 51.41€/MWh