EnergyScan

TTF year-ahead prices breach the €22/MWh level

Prospects of below-average temperatures in the coming two weeks, a tight supply picture and soaring coal and EUA prices pushed European gas prices further high on Tuesday. The coal API 2 Cal 2022 contract moved closer to the $80/t mark, mirroring a sharp increase in Chinese coal prices on worries of sustained tightness and strong demand ahead of the summer peak demand period.

On the EU gas supply side, Russian gas imports are in the bottom part of the historical range since the beginning of May at 320 mm cm/day while LNG sendouts from NW European terminals (UK, BE, NL, Montoir and Dunkerque) dropped to 135 mm cm/day on average since 1 May compared to 186 mm cm/day on average in April 2021.

Finally, Europe gas stocks sit at only 32 Bcm on 10 May, 13 Bcm below the 5-year average for this time of year. In this context, the benchmark TTF year-ahead contract breached the €22/MWh level for the first time since late 2018.

TTF-cal-2022
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-oil
June 4, 2021

Oil prices slightly down

Brent 1st-nearby prices edged down yesterday, but they remain elevated, above $71/b. WTI prices are slightly below $69/b. Prices were dragged down by a strong…
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?  Sign up here!

[booked-calendar]