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TTF Steady on High Storage Levels and Warmer End to Jan

NATURAL GAS

European gas edges lower as weather forecasts show temperatures in NW Europe returning towards normal or even above over the coming weekend and remaining there into the first week of February.

    • TTF FEB 23 down -0.1% at 66.8€/MWh
    • TTF SUM 23 up 0% at 68.44€/MWh
    • TTF WIN 23 down -0.1% at 76€/MWh
  • LNG supplies to Europe increased last week as the cold weather increased demand and despite spreads just encouraging flows to Asia over Europe. Total EU LNG supplies were up from 370mcm/d on 15 Jan to 484mcm/d on 18 Jan.
  • High European gas storage is well above normal due to the warm weather this winter and EU efforts to reduce demand. EU storage was at 78.35% full on 21 Jan compared to the five year seasonal average of 58.4%.
  • Norwegian imports are down to 304.3mcm/d due to planned maintenance at Visund and an unplanned capacity reduction at Oseberg. Gas transit flows via Ukraine are again low at just 24.4mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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