TTF Steady with Strong Supplies and Warm Weather

TTF is holding relatively steady with current strong supplies and warm weather expected in the second half of April. The latest weather forecast for NW Europe shows the current cold moving to above average temperatures into next week and looks likely to extend towards the end of the month. The forecast suggests stronger wind generation into next week before a drop lower by the end of the week.

• TTF MAY 23 up 0.9% at 43.25€/MWh
• TTF WIN 23 up 1.7% at 58.25€/MWh
• TTF SUM 24 up 1.4% at 56.32€/MWh
• European LNG net import flows were back up to 433mcm/d on 11 Apr although uncertainty remains over French LNG imports with Dunkerque operating at reduced capacity again today due to strikes. The Dutch government yesterday announced plans to end all Russian LNG imports having already stopped signing and new contracts and is working on winding down existing contracts.
• European gas in storage is today just slightly higher at 55.98% according to GIE data from 11 Apr compared to the five year average of 35.5%.
• Norwegian imports are back up to 337mcm/d after maintenance outages yesterday but still just below levels over 340mcm/d seen at the start of April.
• Gas transit flows through Ukraine are today at 41.7mcm/d and Algeria gas flow to Italy at Mazara are at 75.7mcm/d.