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TTF Supported By Cooler End to March

NATURAL GAS

Cooler weather in NW and central Europe next week is providing some support to European gas towards the end of the winter heating season. Upside moves are limited by high storage levels, steady LNG supplies and strong wind power generation.

    • TTF APR 23 up 2.2% at 40.86€/MWh
    • TTF SUM 23 up 1.6% at 41.79€/MWh
  • Gas in store is set to finish the withdrawal season at the end of March around 54% full after recent warmer weather has allowed below normal withdrawals this week. Total European natural gas storage is today at 55.6% according to GIE data for 21 March.
  • Total European LNG sendout was up to 434mcm/d on 21 March with industrial action at French terminals continuing to cause cargo diversions within Europe. Strike action at Dunkerque LNG resumed on 23-24 March while Elengy’s three LNG terminals will be offline until 28 March.
  • Norwegian imports are down to 321.3mcm/d with the small reduction due to planned field outages.
  • Gas transit flows through Ukraine are today nominated slightly lower at 41.1mcm/d and Algeria gas flow to Italy at Mazara are steady at 67.4mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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