Global gas & LNG weekly summary: 18 Nov 2022 Report

Commodity Market Report 18 November 2022

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Report summary

European storage has its first small withdrawal of the season, but prices still fall due to robust inventories and smothered demand compared to normal TTF’s front-month contract was trading at $29 intraday on Thursday, about a $2 decrease WoW. Even though demand rose, and European storage had its first net withdrawal of the season, both demand and withdrawals are being heavily weighed down by higher-than-average temperatures for this time of year. Supply also increased, both in terms of piped imports and LNG. Despite unplanned Norwegian upstream maintenance, net piped imports to Europe were up as Gazprom boosted flows via Ukraine. LNG send-out rose again, hitting 89% of max-observed capacity.

European storage has its first small withdrawal of the season, but prices still fall due to robust inventories and smothered demand compared to normal
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