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    TFF sees further gain on Nov 15


The market is waiting on more signals from Russia.

by: Joseph Murphy

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Natural Gas & LNG News, Europe, Top Stories, Market News, News By Country, EU

TFF sees further gain on Nov 15

The December gas supply contract at the Dutch TTF hub has risen a further 3.9% to 78.65 ($90.05)/MWh as of 10:00 GMT, data shows, building on gains it made late last week.

The contract price fell early this week after Russia's Gazprom announced it had started sending gas to its storage sites in Europe, easing concerns of supply shortages ahead of winter. But it rebounded on November 11 to €74.80/MWh from €70.1 the previous day, and increased to €75.70/MWh on November 12.

A possible driving force behind gains last week was Belarusian president Alexander Lukashenko's threat to disrupt Russian gas transit to Europe, as the EU considers sanctions against Belarus in response to a migrant crisis at its border with Poland. But analysts believe the threat to be largely hollow.

The market is waiting on more signals from Russia regarding its export plans. While Gazprom has increased gas flow to Europe this month, it is refraining from offering additional volumes on the spot market, and gas transit via Yamal-Europe and Ukraine remain low.