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TTF Stronger as Weather Forecast Trends Back Towards Normal

NATURAL GAS

European gas prices opened higher as weather forecast show a return to normal temperatures at the end of the month. The current early season warm weather has eased pressure on demand as EU look to save gas to avoid supply disruption over the winter.

    • TTF NOV 22 up 1.8% at 114.5€/MWh
  • Concerns for colder weather and energy infrastructure security are supporting prices after the two month fall on easing winter supply concerns.
  • Norwegian flows are relatively stable with the end to the Troll outage although a couple of smaller fields remain on planned maintenance. Nominations show supply at 310.6mcm/d today.
  • Russian gas transit via Ukraine is again unchanged at 42.4mcm/d.
  • European storage is up to 93.65% full as at Oct 18 with Germany at 96.49%, Italy at 94.27%, France at 99.26% and Netherlands at 92.68%.

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