TTF Resumes Decline Towards Oct Low

TTF has resumed the trend lower amid steady Norwegian and LNG supplies and with mild weather forecast for most of December.

• Front month TTF is dropping towards the October low of 35.31€/MWh.
• LNG sendout to Europe has dropped to 350mcm/d into this week with the return of temperatures above normal.
• A total of 61 LNG cargoes are currently scheduled for delivery into NW Europe in December of which 27 have already arrived according to Bloomberg. Total arrivals during November were 77 cargoes with 60 delivering in October.
• Imports to the UK are set to rise this month with six arrivals already and another 16 expected before the end of the month. This compares to a total of 17 in the month of November. Milford Haven is expecting 8 shipments in the next week.
  • TTF JAN 24 down -1.1% at 35.72€/MWh
  • TTF Q1 24 down -1.4% at 35.93€/MWh
  • TTF SUM 24 down -1.5% at 35.7€/MWh
  • TTF WIN 24 down -1.2% at 40.31€/MWh