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TTF Slips as Norwegian Maintenance Ends

NATURAL GAS

TTF front month is slipping Monday after Norway works end on top of plentiful stock levels and low demand.

  • Norwegian gas nominated to flow to the UK and Northeast Europe was 14% above the 5-day moving average, according to Gassco.
  • TTF AUG 23 down -5.2% at 24.61€/MWh
  • TTF WIN 23 up 0.9% at 45.52€/MWh
  • TTF SUM 24 up 0.7% at 47.06€/MWh
  • Norway’s Troll field returned last week from annual maintenance, after several delays to the startup according to Gassco. It started maintenance June 19.
  • Shell confirmed the restart of the 79.8mcm/d Nyhamna processing plant on 15 July after earlier uncertainty following a previous outage extension after annual maintenance.
  • LNG flows to northwest Europe on July 12 were 207.93 mcm/d, 8.2% higher than the 30-day average.
  • European gas storage was 80% full on July 15 vs the 5-yr seasonal norm of 66%.
  • UK LNG imports nominated at 6.55 mcm/d vs 5-day flow avg 5.08 mcm/d according to the National Grid.

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