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TTF Rallies After Sudzha Town Shelled but with No Gas Damage Reported

NATGAS

TTF regained ground back toward flat on the day to nearly €36.1/MWh before easing back down again amid supply risks after Russia said Ukraine shelled the town of Sudzha, according to Reuters. There was however no mention of any damage to gas infrastructure.

  • Ukraine shelled several settlements including the town of Sudzha, according to Alexei Smirnov, acting governor of the Kursk region.
  • Sudzha is the only remaining operational trans-shipping point for Russian gas exports to Europe via Ukraine.
  • Gas transit flows through Ukraine are today expected near normal at 42.4mcm/d.
  • European markets remain sensitive to supply risks and transit volumes are in focus with the expiry of the existing transit agreement at year end.
    • TTF JUL 24 down 0.8% at 35.45€/MWh
    • TTF Q3 24 down 0.7% at 35.88€/MWh
    • TTF WIN 24 down 0.6% at 39.35€/MWh
    • TTF SUM 25 down 0.5% at 36.1€/MWh

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