Free Trial

TTF Lower as Strong LNG Imports Offset Norway Reduction


European gas is trading down to the lowest since 21 March with strong LNG supplies and with a mixed weather outlook with a shift slightly warmer at the end of the month. Norwegian maintenance, a few days of cold next week and lower wind generation at the end of the month are providing support.

    • TTF MAY 23 down -0.7% at 40€/MWh
    • TTF WIN 23 down -0.5% at 54.79€/MWh
  • LNG imports into Europe are up at 499mcm/d on 18 Apr with an increase in sendout from French terminals over the weekend and having only seen higher imports briefly in March and December. The sendout compares to around 430mcm/d seen in the first half of April and 416mcm/d in March.
  • Temperatures in NW European are forecast to fall well below normal next week after holding just above over the coming weekend. Temperatures are then expected to return above normal towards the end of the month.
  • Norwegian imports are today nominated at 306mcm/d compared to around 340mcm/d at the start of April due Norwegian maintenance which is expected to restrict gas availability into the first week of May.
  • European gas storage is at 56.62% on 18 Apr according to GIE data with slightly below normal injections.
  • Gas transit flows through Ukraine are today up to 42.2mcm/d and Algeria gas flow to Italy at Mazara are up at 84.0mcm/d.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.