VIDEO: European gas update for week 44
Jake Stones
27-Oct-2020
- Tropical storm Zeta is expected to develop into a Hurricane on 28 October, reaching landfall around midweek between Louisiana and Florida panhandle.
- Hammerfest LNG will now be offline until October 2021, leaving European supply tighter going into the first quarter of 2021 and pushing shippers to rely on storage
- On the Dutch TTF, an absence of LNG cargoes until November will encourage storage withdrawals as sendout drops. European storage is currently 4 percentage points below the same time last year.
- On the NBP, warm and windy weather will pressure the prompt from a demand perspective, while LNG cargoes berthing consistently over the week will pressure prices with high sendout.
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