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    TTF continues downward descent

Summary

The decline continues on the back of robust LNG supply and milder temperatures.

by: Joseph Murphy

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Complimentary, Natural Gas & LNG News, Europe, Liquefied Natural Gas (LNG), Top Stories, Market News, News By Country

TTF continues downward descent

TTF gas prices look set for a fifth day of decline in a row on January 13, amid robust LNG supply and milder temperatures.

The February gas delivery contract at TTF was trading at €72.3 ($82.90)/MWh as of 11:15 GMT, down from €75.15/MWh on the previous day, 78.74 on January 11, €84.61 on January 10, €88.17 on January 9 and €96.50 on January 8.

The continued decline comes as concerns of gas shortages this winter dissipate, thanks to unusually warm weather and a surge in LNG supply. Deliveries from Europe's largest gas supplier Russia remain constrained, however, with the Yamal-Europe pipeline shown to be flowing in reverse on January 13 for the 24th day in a row.

EU and UK gas storage facilities were 50% full as of January 13, down 0.72 percentage points from the previous day.