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Turkstream Down for Maintenance While European Gas Markets Firm

NATURAL GAS

Gazprom begins scheduled maintenance of the TurkStream gas pipeline system on Monday.

  • "Annual scheduled maintenance on the TurkStream gas pipeline will take place from June 5 to 12. Transportation of gas along both strings of the gas pipeline will be suspended for this period. The scheduled maintenance was agreed with all stakeholders ahead of time," Gazprom said in a statement.
  • TurkStream exports gas from Russia to Turkey across the Black Sea via two strings with capacity to each carry 15.75 billion cubic meters of gas per year or 31.5 bcm in total.
  • European gas futures have firmed Monday on signs of tighter LNG supplies and potentially higher demand from Asia.
  • US shipments of LNG are currently more profitable to Asia in July, August and September, according to BloombergNEF.
  • TTF JUL 23 up 9.3% at 25.89€/MWh
  • TTF WIN 23 up 2.7% at 41.98€/MWh

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