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TTF Surges Higher on Russia Supply Risks

NATURAL GAS

European gas has surged 20% since reports of damage to both Nord Stream pipelines due to suspected sabotage and concerns for Russian supplies through Ukraine.

    • TTF OCT 22 up 11.8% at 208€/MWh
  • Europe was not receiving any supplies through the Nord Stream pipelines, but the damage confirms the supplies will not return any time soon. The damage adds to the energy security risks in the area with the new Baltic pipeline due to open next week.
  • Gazprom yesterday warned of a risk it won’t be able to pay Ukraine transit fees if Russia sanctions Ukraine’s Naftogaz. Gas transit through Ukraine has been stable at around 42.4mcm/d throughout the period of disruption to Nord Stream flows.
  • Norwegian supply is gradually recovering after field maintenance throughout the month. Nominations are today up to 297.1mcm/d.
  • Strong LNG flows are enabling storage injections with total European stocks now up to 87.97% full.
Energy BulletsCommodities
Energy BulletsCommodities

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