SINGAPORE (ICIS) –The ICIS East Asia Index (EAX) firmed on 22 September on early TTF trades and tender information, resulting in a spot value of $41.00/MMBtu, $2/MMBtu higher than the previous day’s close.
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LONDON (ICIS) –The ICIS TTF October ’22 contract rose to $66.03/MMBtu on 14 September, up almost 11% day on day.
The extended closure of the Nord Stream 1 pipeline from Russia to Germany caused a major rise in TTF prices on Monday and a similar reaction for East Asian spot LNG prices.
The ICIS TTF price scaled new heights last week before plummeting this week, setting the tone for erratic Asian spot price movements.
As concerns for securing winter supply continue to mount, the European gas benchmark TTF toppled new all-time highs this week.
SINGAPORE (ICIS) –Spot LNG prices in Asia and gas prices in Europe remain high on tight supply. The ICIS TTF September ’22 contract price reached $61.02/MMBtu on 2 August, the second highest on record after 8 March.
LONDON (ICIS) — Russia stepped up its curtailment of gas flows to Europe this week, in a move designed to be the dominating factor in the market. The impact was palpable as the ICIS TTF front-month gas price, the global benchmark, rose by 30% over the last seven days, with little indication of a significant fall back as long as current market conditions persist.
HOUSTON (ICIS) – Asia spot LNG prices have fallen this week, with the September ’22 ICIS East Asia Index (EAX) down more than 9% on 21 July from one week ago. The EAX has declined in recent days after peaking above $40/MMBtu.
European gas prices remained high this week, supported by supply tightness due to low Norwegian flows caused by unplanned outages at the Sleipner field and Nyhamna plant, and maintenance work on Nord Stream 1 set to last until 21 July.
LONDON (ICIS) — European gas supply uncertainty has continued to push the TTF benchmark to new highs, with the ICIS TTF August ’22 contract surging to the fourth highest level ever on 6 July.