The spread between the European TTF and the East Asia Index (EAX) further narrowed in the past two weeks, as Asian demand rose, especially in south Asia and Japan. The market saw a flurry of Asian tenders for summer deliveries, narrowing the price spread.
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TTF Sell Off Continues as Natural Gas Inventories Climb, Imports Stay Strong – LNG Recap
European natural gas prices continued their decline Tuesday as storage inventories on the continent appeared on track to fill by the end of summer. The prompt Title Transfer Facility (TTF) contract has shed nearly $5 over the last week. While liquefied natural gas (LNG) arrivals have slowed somewhat, they remain well above deliveries at this…
High Natural Gas Prices Have Asian Buyers Still Reticent Despite European LNG Slowdown
The wave of liquefied natural gas (LNG) cargoes headed to Europe has started to slow as storage on the continent rises, but there are signs that extreme prices could be delaying an anticipated ramp up from Asian buyers. Instead, more volumes of LNG have been steadily heading to destinations like Brazil, according to research from…
Japan Looks to Restart Nukes to End Russian LNG Reliance
Japan expects to reduce its reliance on Russian liquefied natural gas (LNG) imports, but it’s unlikely to happen quickly, officials said. The Group of Seven (G-7), an inter-governmental political forum, has been considering ways to punish Russia following its invasion of Ukraine. The G-7 consists of Canada, France, Germany, Italy, Japan, the UK and the…
ICE Reports Jump in LNG, European Natural Gas Trades Amid Volatility
Additional volatility in the global natural gas market set off by Russia’s invasion of Ukraine earlier this year is driving liquidity in global benchmarks that continues to set new highs, particularly in Europe, according to the Intercontinental Exchange (ICE). Open interest in Italian Punto di Scambio Virtuale (PSV) gas futures was up 169% year/year from…
Shell Green Lights Crux Project Offshore Australia to Feed Prelude FLNG
Shell Australia Pty Ltd. and joint venture partner SGH Energy are moving forward with developing the Crux natural gas field offshore Western Australia, a project to supply the existing Prelude floating liquefied natural gas (FLNG) facility. Crux is expected to have capacity to supply the Prelude FLNG facility with up to 550 MMcf/d. Construction is…
Asian-European Natural Gas Price Spread Narrows on Uptick in Demand
MADRID (ICIS) –The spread between TTF and Asian prices narrowed slightly in the seven days to 26 May, as the ICIS TTF dropped slightly while the East Asia Index (EAX) rose on regional demand rallies.
Asia Spot LNG Prices Drop, Prompt Shipping Rates Rise
HOUSTON (ICIS) — Asian LNG spot prices have fallen this week, with the July ICIS East Asia Index (EAX) down more than 12% on 19 May from one week ago. The softness in prices, compared with levels seen just a month ago, could attract additional buyers into the market. New demand will be weather dependent…
European Storage Filling Quickly as Natural Gas Floods Continent – LNG Recap
Europe’s natural gas storage inventories continue to rise at some of the fastest rates on record as an influx of liquefied natural gas (LNG) cargoes lands on the continent to take advantage of strong prices. Storage stocks are at roughly 40% of capacity, which is below the five-year average of about 45%, but roughly aligned…
LNG Prices Still Bearish on Limited European Delivery Slots
LONDON (ICIS) – European and Asian prices continued to move in tandem to some extent, driven by new supply deals, tighter European supply and new Russian sanctions.