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TTF Lower as Market Awaits EU Energy Plans

NATURAL GAS

TTF front month has fallen back below 200€MWh as the market waits for further details of the EU plans to combat the surging energy costs.

    • TTF OCT 22 down -4.9% at 197€/MWh
  • Ursula von der Leyen is expected to announce EU plans later this week after the energy ministers met last Friday. The plans are likely to include a cap on non gas power generation revenue, measures to help liquidity and reduce demand but discussion regarding a gas price cap are still ongoing.
  • Maintenance continues at Troll, Kollsnes and Karsto but some fields have returned from outages to bring Norwegian supply into Europe back up to 266.6mcm/d.
  • Russian gas flows continue through Ukraine with nominations for supply through Sudzha unchanged at 42.4mcm/d.
  • European storage levels continue to build and currently up to 83.61%. Germany is up to 87.95%, Italy to 85.41%, France to 93.81% and the Netherlands to 82.79%.
Energy BulletsCommodities
Energy BulletsCommodities

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