Global gas & LNG weekly summary: 6 May 2022

TTF premium over Northeast Asia stays strong, Henry Hub rises as production lags amid widening storage deficit, and CtG range lifted by higher coal prices TTF’s June contract settled at $31.8 on Wednesday, down from $32.7 last week as fundamentals turned increasingly bearish with decreased demand, higher production, continued high LNG send-out, and flat WoW net imports leading to continued large injections. The risk premium assigned to Russian supply disruption amid the ruble payments dispute also decreased, but TTF remained above the coal-to-gas switching range for the second week in a row. There was also volatility and risk premium as a result of discussions surrounding the possibility of the EU implementing a gradual ban of Russian oil, which to-date Hungary has blocked.