TTF trades above €30/MWh, JKM above $12/MMBTU

TTF ICE month-ahead prices traded as high as €30.24/MWh on Monday, breaching the €30/MWh mark for the first time since 2008. At the spot level, prices strengthened further as Norwegian gas imports were constrained by two unplanned outages and NW Europe LNG sendouts remained weak due to planned outages at Gate and Montoir import terminals. Firm entry capacity sales for the Russia-Ukraine Sudzha interconnection amounted to 15 mm cm/day for July delivery, the same volume than the two previous monthly firm capacity auctions. The last auction to purchase interruptible capacity  for July delivery will take place on 29 June. With the annual shutdown of both Yamal and Nordstream pipelines planned in July (6-10 and 13-23 July respectively) and Gazprom holding an historically low volume into European gas storage sites (see graph in our Gas/Europe/Gas Stocks section here), some players may hope for additional interruptible capacity booking, which never happened since Ukrainian capacity was first auctioned in September 2020.

russian gas flows to western europe
Share this news :

You might also read :

ES-power
December 17, 2021

And now the French nuclear crisis

The European energy crunch entered a new phase on Thursday with an extreme spike in French power prices mirroring similar moves observed in Japan or Texas…
ES-oil
June 16, 2021

Further evidence of significant crude draws

ICE Brent prompt contract continued to climb, at 74.2 $/b, as the API survey reported significant draws in US crude commercial stocks, while products inventories…
January 27, 2021

2021 Energy markets outlook

The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]