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TTF Opens Higher With Troll Capacity Reduction

NATURAL GAS

TTF opens higher today after swinging between about 27€/MWh and 30.5€/MWh yesterday with support from a dip in Norwegian supplies offsetting high storage and low demand.

    • TTF SEP 23 up 2.6% at 27.82€/MWh
  • Norwegian pipeline supplies to Europe are similar to yesterday at 314.5mcm/d with additional “corrective maintenance” at Troll yesterday extended by a day and with an uncertain duration.
  • Total European gas in store was up above the five year range at 85.79% full on 30 July according to GIE data compared to the five year average of 70.7%.
  • LNG sendout to Europe averaged around 300mcm/d in the last few days of July compared to an average of around 333mcm/d for the whole month and an average of 372mcm/d in July last year.
  • The latest weather forecast shows temperatures in NW and central Europe falling further below normal over the coming week before recovering back to normal in week two. Above normal temperatures are expected to stay in southern Europe throughout the first half of August.
  • Gas transit flows through Ukraine are unchanged today at 42.4mcm/d and Algeria gas flow to Italy at Mazara are at 63.6mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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