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TTF Steady With Colder Weather Due Next Week

NATURAL GAS

European gas is holding steady with warm weather forecast to give way to below normal temperatures from 7 Jan in NW Europe.

    • TTF MAR 23 down -1% at 56.8€/MWh
    • TTF SUM 23 down -1.4% at 58.5€/MWh
    • TTF WIN 23 down -0.1% at 67.73€/MWh
  • The market has coped well with short cold spells so far this winter but an extended cold and LNG supply remain upside market risks. Strong LNG supply will need to be maintained to cover any more cold spells this winter as well to restock storage over the coming summer months. LNG net flows have eased down to 395mcm/d on 29 Jan with lower demand easing supply pressures in the current warm period.
  • Total EU gas storage is at 72.65% according to GIE data from 30 Jan with a near normal withdrawal rate. Germany is at 83.75%, Italy at 75.01, France at 70.68% and Netherlands at 71.46%.
  • Norwegian supply is nominated at 322.7mcm/d and gas transit via Ukraine is up to 29.4mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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