Editor’s Note: This content is provided courtesy of Independent Commodity Intelligence Services (ICIS). Visit natgasintel.com/icis for more information.

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.

The TTF maintained its premium over the East Asia Index (EAX), though expectations of temperature-related Japanese LNG demand could add support to Asian prices.

LNG cargoes were sought via a new tender issued by Thailand. High prices may have deterred some Indian...