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TTF Ticks Higher As Forecasts Show Signs of Temperatures Cooling

NATURAL GAS

TTF recovers ground with cooling weather forecasts and after mixed success at the meeting of EU energy ministers yesterday.

    • TTF NOV 22 up 4.2% at 104€/MWh
  • EU members agreed to make joint natural gas purchases as well as on a mechanism to combat energy prices spikes. Ministers have asked the European Commission to submit concrete proposals for both as soon as possible. Another emergency meeting is scheduled form Nov 24.
  • The latest weather forecast for NW Europe shows a continuation of warm temperatures into the start of November but drifts back towards normal at the end of the two week period.
  • Gas supplies into Europe are stable with flows from Norway of 317.7mcm/d and gas flowing through Ukraine at 42.6mcm/d.
  • EU gas storage is at 93.79% with support from LNG imports to maintain stocks. LNG imports to Europe have averaged around 385mcm/d over the last week.
Energy BulletsCommodities
Energy BulletsCommodities

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