Tracking Norway's Gas Outage

Mobius Intel Brief:

Supply-side fears and substantial spec long interest have propped up nearby Dutch TTF since mid-July, with this year’s Norwegian maintenance season compounding low-probability risks to Russian pipeline gas flows through Ukraine.

Easing concerns are apparent in TTF’s -8% price action since August 30, as EU gas supplies ballooned to 92.6% full this week, extending above the bloc’s November 1 target for 90% filled inventories.

Still, a closer look at Norwegian (Gassco) pipeline gas flows shows outages remain in full effect through September 5, with total exit noms down nearly 50% from early August’s peak.

Intel Brief Outline

• Tracking Norway's Gas Outage

  • The State of European Gas Inventories

  • Dutch TTF Price Action Reflects Easing Supply Fear …

  • The Other Import-Dependent Region

  • Comparing TTF/JKM Forward Curves

Pro charts, statistics, and analyst insights below.