European natural Gas prices edged higher as Norwegian supply disruptions intensified, with extended maintenance at the Troll field cutting flows to Europe. Storage levels remain well below last year’s levels and the five-year average, adding to market tightness, ING's commodity experts Ewa Manthey and Warren Patterson note.

EU Gas storage lags year-ago levels

"European natural Gas prices rose yesterday, with the Title Transfer Facility (TTF) settling almost 1.4% higher on the day. Norwegian Gas flows to Europe are under pressure amid ongoing maintenance. And some work at the Troll field has been extended by 6 days."

"Daily Norwegian Gas flows to Europe have fallen below 240mcm/day, down from around 340mcm/day in early August. Meanwhile, EU Gas storage is almost 78% full, below the 92% year-on-year and lower than the 5-year average of 85%."