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.
Asia
Articles from Asia
Australian LNG Producers Face Prospect of Diverting Exports to Meet East Coast Supply Shortfall
Australia should divert LNG exports to meet a domestic gas supply shortfall on the east coast next year, the Australia Competition and Consumer Commission (ACCC) said in its latest report. Australia’s east coast gas market is expected to have a shortage of 56 petajoules (PJ) next year, or about 10% of domestic demand, according to…
August 3, 2022
European Natural Gas Prices Climb as Fears Grow Over Russian Supplies – LNG Recap
European natural gas prices surged again on Monday as Russia ratcheted up tensions by cutting off supply to another customer and the Kremlin sowed further doubts about equipment needed to boost flows on Nord Stream 1 (NS1). Gazprom PJSC said Saturday that it has stopped delivering natural gas to Latvia “due to violation of the…
August 1, 2022
European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts
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.
July 29, 2022
Asian Spot Prices Decline, LNG Shipping Rates Soften in Mixed Week for Global LNG Market
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.
July 22, 2022
European Supply Tightness Boosts Gas Prices, While Asian LNG Demand Rises
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.
July 15, 2022
Marathon Petroleum Affiliate Seeks Extension for Alaska LNG Import Project
A Marathon Petroleum Corp. (MPC) subsidiary has asked FERC for a three-year extension to transform the Kenai LNG export facility in Alaska to an import terminal. Trans-Foreland Pipeline Co. LLC cited the Covid-19 pandemic, disruptions in the global energy market caused by Russia’s war in Ukraine and an unstable liquefied natural gas (LNG) market in…
July 15, 2022
Threat of Losing Russian Natural Gas Stokes Global Energy Conservation, Economic Warnings
Recent cuts in global LNG supply and further geopolitical tensions are colliding, causing a growing list of European and Asian countries to react with energy conservation plans and economic warnings. Rice University’s Anna Mikulska, a nonresident fellow in energy studies at the Baker Institute for Public Policy, said the growing chaos in energy markets could…
July 14, 2022
Shell Signs Binding Offtake Agreement for Mexico LNG Terminal
A unit of Shell plc has signed a sales and purchase agreement (SPA) for 2.6 million metric tons/year (mmty) of offtake from Mexico Pacific Ltd. LLC’s (MPL) LNG export terminal on Mexico’s Pacific Coast. Envisioned for Puerto Libertad in Sonora State, the terminal’s first two trains would have a combined liquefaction capacity of 14.1 mmty,…
July 12, 2022
All Eyes on NS1 Natural Gas Flows to Europe as Annual Maintenance Begins – LNG Recap
European natural gas prices nosedived on Monday after Canada said it would circumvent sanctions against Russia and ship a key piece of equipment that could help get more supplies flowing to the continent. The Title Transfer Facility (TTF) prompt contract began retreating from four-month highs Friday on reports that Canada would send a repaired turbine…
July 11, 2022
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
