(Montel) European gas front months shed more than 10% on Tuesday amid growing expectation of the Freeport LNG export facility returning and milder weather conditions limiting demand.
The Dutch TTF February contract dropped EUR 5.80 from the previous settlement to last trade at EUR 60.20/MWh, on the Ice Endex. The UK’s NBP equivalent was down 14.50p to 152.22p/th.
Freeport, the second largest LNG export terminal in the US, informed authorities on Monday that it had finished repairs following a fire last year and was ready to gradually restart operations.
On the weather front,…