European gas is extending the decline from late last week with warmer weather forecast across Europe for the coming week. Temperatures in NW Europe are expected to be above normal until Dec 26 but could dip back to normal of just below towards the end on the month.

    • TTF JAN 23 down -4% at 110.8€/MWh
    • TTF SUM 23 down -4.3% at 111.3€/MWh
    • TTF WIN 23 down -2.2% at 113.51€/MWh
  • The recovery in temperatures and a fall in demand will ease the pressure on the tight supplies with near record LNG imports, strong Norwegian imports and storage withdrawals helping the balance the recent cold period.
  • LNG imports into Europe averaged around 480mcm/d last week with flows from the new LNG terminal at Wilhelmshaven expected soon after the arrival of the FRSU vessel late last week.
  • Norwegian supply has remained unchanged over the last week and is today nominated at 332.3mcm/d with gas transit via Ukraine is steady at 42.4mcm/d.
  • European storage is down to 84.15% after high withdrawal rates last week.
  • EU ministers again meet today to try to agree to a cap on gas prices. Several ministers have suggested this morning that a solution to the gas price mechanism is possible today but compromise with be required from everyone.

TTF Extends Decline on Warmer Weather and Steady Supplies

Last updated at:Dec-19 08:27By: David Lee
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European gas is extending the decline from late last week with warmer weather forecast across Europe for the coming week. Temperatures in NW Europe are expected to be above normal until Dec 26 but could dip back to normal of just below towards the end on the month.

    • TTF JAN 23 down -4% at 110.8€/MWh
    • TTF SUM 23 down -4.3% at 111.3€/MWh
    • TTF WIN 23 down -2.2% at 113.51€/MWh
  • The recovery in temperatures and a fall in demand will ease the pressure on the tight supplies with near record LNG imports, strong Norwegian imports and storage withdrawals helping the balance the recent cold period.
  • LNG imports into Europe averaged around 480mcm/d last week with flows from the new LNG terminal at Wilhelmshaven expected soon after the arrival of the FRSU vessel late last week.
  • Norwegian supply has remained unchanged over the last week and is today nominated at 332.3mcm/d with gas transit via Ukraine is steady at 42.4mcm/d.
  • European storage is down to 84.15% after high withdrawal rates last week.
  • EU ministers again meet today to try to agree to a cap on gas prices. Several ministers have suggested this morning that a solution to the gas price mechanism is possible today but compromise with be required from everyone.

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