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Volatile TTF Amid Chevron LNG Worker Strike Restart Vote

NATURAL GAS

Volatile TTF front month regains some of the earlier losses on Reuters headlines that Chevron LNG workers vote to restart strikes with a 7-day notice to be submitted on Monday according to a union representative.

  • Chevron have reneged on the commitment they gave to the Fair Work Commission to incorporate the FWC’s Recommendations into the agreements for the Wheatstone and Gorgon facilities according to the Offshore Alliance earlier.
  • European markets remain sensitive to supply disruptions despite high storage levels over 96% and the warm start to October.
  • TTF had earlier fallen to 36.13€/MWh but still above the low of 35.825€/MWh from 3 Oct.
    • TTF NOV 23 down -4.5% at 36.7€/MWh
    • TTF Q1 24 down -2.2% at 44.16€/MWh
    • TTF SUM 24 down -2.5% at 42.9€/MWh
    • TTF WIN 24 down -2.2% at 47.19€/MWh

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