Morgan Stanley Sees Global LNG Supply Growing By 18 MT YoY Over This Winter

Nov 7 (Reuters) - MORGAN STANLEY:

• SAYS IT SEES GLOBAL LNG SUPPLY GROWING BY 18 MT YOY OVER THIS WINTER

• SAYS IT BRINGS DOWN LATER-2026 TTF FORECASTS, AS NEW PROJECTS STARTING SUCCESSFULLY IN 1H 26 WILL BE THE CATALYST FOR TTF TO FALL BELOW €30/MWH BY 2H 26

• SAYS ITS SUPPLY GROWTH ESTIMATE INCLUDES 1 MT OF EXPORTS FROM ARCTIC LNG 2 OVER THE COMING WINTER

• SAYS THEY DON'T ASSUME SIGNIFICANT DISRUPTION TO EU LNG SUPPLY BASED ON EU'S 19TH SANCTIONS PACKAGE ON RUSSIA, AS SUPPLY FROM US PROJECTS RAMPS UP

• SAYS CONSISTENT WIND POWER GENERATION DRIVES 8% YOY DECLINE IN GAS FOR POWER DEMAND OVER WINTER, CONTINUED WEAKNESS IN INDUSTRIAL DEMAND WILL DRIVE 3% DECLINE IN INDUSTRIAL GAS DEMAND OVER OCTOBER-MARCH