TTF front month has furthered its fall, dropping below 24€/MWh as mild weather caps heating demand and unplanned outages in Norway are resolved.

• TTF MAR 24 down -4.9% at 23.6€/MWh
• TTF SUM 24 down -4.7% at 24.3€/MWh
• The European weather forecast suggests a further extension of the mild weather.
• Net European gas storage was 65.43% full on Feb 17 according to GIE data.
• Norwegian pipeline supplies to Europe are today nominated at 339.8mcm/d.
• Industrial demand for natural gas in NW Europe has started to show small signs of recovery according to JP Morgan.
• Equinor and Indian fertiliser and Indian petchem company Deepak have assigned a 15-year agreement to supply 0.65m mtpa of LNG starting 2026.
• US President Joe Biden is facing pushback in his own Democrat party over his pause on approving new LNG projects.
• Europe will be well supplied with US LNG despite the project pause according to US Secretary of State Amos Hochstein.
• Red Sea shipping disruptions would limit the arrival of products to customers in the long-term, Qatar’s energy minister, said.
• Qatar will announce additional LNG contracts with Asian and European buyers, Saad Al-Kaabi, Qatar’s energy minister, said.
• Chevron announced on Sunday the second phase of the expansion of Israel’s Tamar natural gas field.
• The share of spot LNG trade in the global market fell to a new low of 26% in 2023 according to ICIS.