S&P has highlighted in its recent webinar that the European TTF price has historically traded within a range but that recent gas pricing dynamics has seen it break out of this range.
TTF has historically been bound by the JKM price as a ceiling (spot LNG price in Asia) and the coal switching price as a floor.
In a tight gas market, TTF traded closer to the JKM price to incentivise LNG supplies into Europe
In a loose gas market, TTF traded...
