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TTF Win22 and Sum23 Moving Quicker than Front Month

NATURAL GAS

TTF Win22 and Sum23 are reacting stronger than front month with the potential long term impact of a halt to Russian Nord Stream gas supplies.

    • TTF OCT 22 up 25.3% at 269€/MWh
    • TTF WIN 22 up 29.3% at 279.97€/MWh
    • TTF SUM 23 up 31.6% at 230.5€/MWh
  • A complete halt to Nord Stream flows puts extra pressure on LNG supply although the new Baltic pipeline from Norway due in October may also help to boost supplies. With strong demand for LNG supplies, high prices will be required to attract LNG cargoes to Europe to cover winter demand and replenish gas stocks again next summer.
  • The halt to Nord Stream was expected at some point but Europe is improving the balance excluding the supply largely thanks to urgent implementation of new LNG regas capacity and measures to reduce consumption. Despite the price surge today, the front month price is still well below the peak of 336€/MWh reached on Aug 26.
Energy BulletsCommodities
Energy BulletsCommodities

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