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TTF Ticks Lower as EU Plans for Winter Risks

NATURAL GAS

European gas prices continue to trend back lower with EU measures to reduce demand, plans for increased LNG import capacity and building storage levels balanced against Russia supply risks.

  • TTF OCT 22 down -1.5% at 187€/MWh
  • Upside risks remain from cold weather and further supply disruptions during the winter months. Russia supply transit through Ukraine is holding steady at 42.4mcm/d.
  • Norwegian supply is relatively unchanged at 272.4mcm/d with fields still on maintenance throughout September and a compressor failure outage at Kvitebjorn until Friday.
  • European storage injections are maintaining at a higher rate than normal with stocks now 86.5% full.

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