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TTF Within Range as Supplies Enough to Meet Current Demand

NATGAS

TTF front month is holding within the weekly €29.15/MWh to €30.57/MWh range with stable supplies and muted demand amid mild temperatures but with support from ongoing concern for supply via Ukraine.

    • TTF JUN 24 down 0.5% at 29.6€/MWh
    • TTF Q3 24 down 0.2% at 30.43€/MWh
    • TTF WIN 24 down 0.5% at 35.5€/MWh
  • Temperature forecasts for NW and central Europe are showing above normal temperatures throughout the coming two weeks until the end of the month.
  • Norwegian pipeline supplies to Europe are today nominated at 321.5mcm/d with supply still limited by small outages at Visund, Gullfaks and Karsto.
  • European LNG sendout was at 290mcm/d on May 14 compared to an average of 294mcm/d so far in May.
  • Total European gas storage was 65.80% full on May 14 according to GIE compared to the five year seasonal average of 51.5% with near normal net injection rates this week.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 64.95mcm/d.
  • ICE TTF daily aggregate traded futures volume was at 240k on May 15.

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