Free Trial

TTF Trends Lower

NATURAL GAS

TTF front month has further eased back, reversing most of the gains in the previous two sessions amid healthy storage levels, milder weather in northwest Europe and recovering piped natural gas flows from Norway, despite two minor field outages.

  • TTF AUG 23 down -4.2% at 25.84€/MWh
  • LNG flows to northwest Europe on July 16 were 181.06 mcm/d, in line with the 30 day average. Total European LNG imports stood at 337.4mcm/d today and remained below last year’s levels.
  • Pipeline imports from Norway remained stable at 334.80mcm/d today. There are reduced flows at the Asgard and Aasta Hansteen field amid unplanned outages, Gassco remit data showed.
  • Gas in store was up to 82.33% full on 18 July according to GIE data compared to the five-year average of 67.26%. Net gas storage injections fell back below the five-year average.
  • Weather forecasts for northwest Europe have been revised down are mostly below the seasonal norm until early-August.
Algerian gas flows to Italy at Mazara have edged down to 61.56mcm/d.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.