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TTF Lower as EU to Prepare Gas Contingency

NATURAL GAS

TTF falling back and now down 8% on the day to 161€/MWh

  • The return of Norwegian supply has helped ease the immediate supply, but concerns remain as to what happens to Russian flows once Nord Stream completes the current maintenance period.
  • The EU executive arm is due to unveil contingency plans on 20th July for reducing demand and to boost energy savings in preparation for a complete halt in Russian gas supply. EU nations are due to meet for an emergency meeting on 26th July.
  • Injections into European storage have slowed with the current Nord Stream outage and the German regulator today stated that storage injections and withdrawals are currently balanced.
Energy BulletsCommodities
Energy BulletsCommodities

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