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TTF Steady Supported By Supply Risk and Cooler End to March

NATURAL GAS

Front month TTF is holding above 40€/MWh supported by supply risks and despite the high end of season storage levels.

    • TTF APR 23 down -0.9% at 42€/MWh
    • TTF SUM 23 up 0% at 43.32€/MWh
    • TTF WIN 23 up 0.3% at 51.36€/MWh
  • The latest weather forecast for NW and central Europe shows the above normal temperatures this week moving back below normal into next week to boost demand in the last week of the winter heating season.
  • LNG supplies could be impacted by restricted production due to loading issues at Angola LNG and extended French LNG disruption with zero nominations from three terminals until 28 March. European LNG sendout is currently strong with net flows into NW Europe back up from 192mcm/d on 12 March to 279mcm/d yesterday.
  • European gas in storage is at 55.64% according to GIE data from 20 Mar compared to the five year average of 34.7%.
  • Norwegian imports are today nominated at 334.3mcm/d but output will fall later this week due to planned maintenance at several facilities. Gas transit flows through Ukraine are today nominated at 42.4mcm/d and Algeria gas flow to Italy at Mazara is at 66.7mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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