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TTF Pulls Back as EU Plan to Help Ease Energy Crisis

NATURAL GAS

TTF gas pulled back yesterday following the wider demand driven fall in the energy markets.

    • TTF OCT 22 down -2% at 210€/MWh
  • EU plans to intervene in the European energy markets has helped bring prices down from a peak in late August. Measures announced so far have focused more on electricity rather than gas although demand reduction obligations will help ease the pressure across the European energy markets.
  • There is growing support for EU proposals for a new gas benchmark price for Europe to replace Dutch TTF futures. A new index could be linked to LNG import prices to reflect the changing nature of the supply.
  • Norwegian supply is very slowly recovering as maintenance continues throughout the month. Nominations are today showing as 271.3mcm/d. Gas supplied through Ukraine is unchanged at 42.4mcm/d.
  • LNG imports into NW Europe dipped earlier in the week but remain well above normal with a steady supply of cargoes expected before the end of the month. Strong LNG supplies are helping fill European storage now up to 84.71%.
Energy BulletsCommodities
Energy BulletsCommodities

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