European Gas rally pauses amid Norwegian outages – ING

FXStreetMay 28, 2025 8:44 AM

The rally in European natural gas took a breather yesterday, with the Title Transfer Facility (TTF) settling 0.66% lower on the day, ING's commodity experts Ewa Manthey and Warren Patterson note.

TTF slips as storage builds, JKM spread narrows

"Some weakness in the JKM-TTF spread is dragging TTF lower. Meanwhile, outages in Norway have led to lower gas flows to Europe over the last week. The Troll field had power-related issues following maintenance last week; the outage might persist until this weekend."

"EU gas storage continues to tick higher, standing at just under 47% full, down from 69% at the same stage last year and below the 5-year average of 58% full."

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