Free Trial

TTF Steady With Warm Weather Expected in April

NATGAS

TTF front month is holding steady with upside geopolitical risks and LNG buying in Asia set against muted demand amid warm weather and high end of season storage levels.

    • TTF MAY 24 down 0.8% at 27.55€/MWh
    • TTF WIN 24 down 0.5% at 32€/MWh
    • TTF SUM 25 down 0.1% at 30.68€/MWh
  • Temperatures in NW Europe are forecast to remain above normal into April although the UK and Ireland could be more in line with normal. Stormier weather is expected in the early part of April but is expected to calm as the month goes on.
  • Norwegian pipeline supplies to Europe are nominated slightly lower at 340.8mcm/d today amid unplanned process problems at Kollsnes. A planned outage at Karsto will reduce capacity by 19.6mcm/d from Apr. 1.
  • European LNG sendout increased on the day to 362mcm/d on Mar. 26 but remains below the imports of around 415mcm/d seen this time last year.
  • European gas storage was at 58.9% full on Mar. 26 according to GIE with above normal withdrawal rates in recent days. The seasonal five year average is 41.6% full.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are today at 65.5m/d.
  • ICE TTF daily aggregate traded futures volume was yesterday at 305k.
209 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

TTF front month is holding steady with upside geopolitical risks and LNG buying in Asia set against muted demand amid warm weather and high end of season storage levels.

    • TTF MAY 24 down 0.8% at 27.55€/MWh
    • TTF WIN 24 down 0.5% at 32€/MWh
    • TTF SUM 25 down 0.1% at 30.68€/MWh
  • Temperatures in NW Europe are forecast to remain above normal into April although the UK and Ireland could be more in line with normal. Stormier weather is expected in the early part of April but is expected to calm as the month goes on.
  • Norwegian pipeline supplies to Europe are nominated slightly lower at 340.8mcm/d today amid unplanned process problems at Kollsnes. A planned outage at Karsto will reduce capacity by 19.6mcm/d from Apr. 1.
  • European LNG sendout increased on the day to 362mcm/d on Mar. 26 but remains below the imports of around 415mcm/d seen this time last year.
  • European gas storage was at 58.9% full on Mar. 26 according to GIE with above normal withdrawal rates in recent days. The seasonal five year average is 41.6% full.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are today at 65.5m/d.
  • ICE TTF daily aggregate traded futures volume was yesterday at 305k.