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TTF Supported by Lower Flows to US Export Terminals

NATURAL GAS

TTF front month extends the gains today above the high from yesterday with lower feedgas flows to US LNG export terminals and despite the end to strike action at Chevron LNG facilities in Australia.

  • Cove Point LNG has halted for four weeks to undergo seasonal maintenance. Feedgas intake into Cheniere’s Sabine Pass LNG terminal dropped yesterday to 3.6bcf/d but has since recovered slightly today back towards normal at 4.3bcf/d according to Bloomberg.
  • North Asian LNG prices have eased but increased interest in LNG cargoes for the coming winter helped stem losses according to a note from ANZ Bank yesterday.
    • TTF OCT 23 up 1.8% at 39.81€/MWh
    • NBP OCT 23 up 1.9% at 102.5p/th
    • JKM Oct 23 up 2.6% at 14.48$/mmbtu
    • JKM-TTF Oct 23 up 0$/mmbtu at 2.04$/mmbtu
    • US Natgas OCT 23 up 1.5% at 2.65$/mmbtu

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