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TTF Steady as Warm Weather Persists into January

NATURAL GAS

European gas is holing steady with warm weather persisting into January and high wind output helping to ease pressure on gas import supplies.

    • TTF JAN 23 down -0.4% at 81€/MWh
  • The latest weather forecast shows above normal temperatures across Europe with the potential to fall back towards normal later in the two week period.
  • Total European gas storage levels remain unchanged at 83.18% with German storage increasing slightly from 87.2% on 20 Dec up to 88.84% as of 27 Dec according to GIE data.
  • Norwegian imports are unchanged at 334.1mcm/d while gas transit through Ukraine is at 42.4mcm/d. Maintenance works at the Karsto processing plant have been extended to 3 Jan having originally been expected to end on 19 Dec.
  • Total LNG import flows into Europe were at 420mcm/d on Dec 26 as the warm weather has eased pressure on global LNG supplies and due a switch in spreads with Asia now at a slight premium to Europe for Feb.
Energy BulletsCommodities
Energy BulletsCommodities

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