The cost of supplying U.S. liquefied natural gas (LNG) to Asia has spiked this year, but with a shortage of natural gas to meet widespread demand across the world, that is likely to have little impact on output that is expected to reach record highs. An analysis by Rystad Energy found that the short-run marginal…
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Europe, Asia Battle for Natural Gas as Price Rally Continues — The Offtake
A roundup of news and commentary from NGI’s LNG Insight Global gas benchmarks recorded another day of gains Friday. Europe’s Title Transfer Facility again grabbed headlines. The front-month contract climbed for a seventh straight day, continuing its push above $11/MMBtu. Tudor, Pickering, Holt & Co. (TPH) said European storage built by 79 Bcf this week,…
European, Asian Natural Price Rally Continues — The Offtake
A roundup of news and commentary from NGI’s LNG Insight A natural gas price rally continues overseas. European front-month prices gained for a sixth day as did contracts further down the curve, with the Title Transfer Facility trading at its highest point in over a decade. Spot prices in North Asia also gained again Thursday,…
Asia Pacific Coal Power Investments Seen Outpacing Natural Gas into 2030s
Wind, solar and natural gas have the brightest future in Asia Pacific power generation, although coal is not going anywhere soon, according to experts at Wood Mackenzie. “Asia Pacific power generation investments are leading the world and expected to hit $2.4 trillion in the current decade, with renewables accounting for over half, or $1.3 trillion…
European Natural Gas Prices Hit Highest Level in Over a Decade — LNG Recap
Hot weather and limited supplies helped drive European natural gas prices to a 12-year high late last week in a rally that continued Monday. The prompt Title Transfer Facility (TTF) contract closed Friday at $10.237/MMBtu and finished higher on Monday at a level not seen since 2008. European gas prices have been strong since the…
Global LNG Buyers Said Looking to ‘Bridge’ Current Supply Crunch with Short-Term Contracts
Global liquefied natural gas (LNG) buyers, hammered by high spot prices in Asia, are increasingly looking to short-term “bridge” contracts to ensure ample supply until demand is expected to cool down later this decade, according to an analysis by Wood Mackenzie. Asian spot prices are hovering around $12/MMBtu for June and July delivery as demand…
Global Oil, Gas Prices Climb Higher as Demand Strengthens — LNG Recap
European natural gas prices rebounded Monday after falling from multi-year highs late last week, as low storage inventories and strong demand in Asia continue supporting prices on the continent. The prompt Title Transfer Facility (TTF), Europe’s leading gas benchmark, hit a multi-year high of $10.241/MMBtu Thursday before falling to finish the week Friday at $9.883.…
Natural Gas Bulls to Extend Parade Through Summer, Support $3.00 Prices, Analysts Say
Robust needs for U.S. exports across Asia, Europe and Mexico – coupled with expectations for another sizzling summer domestically – could keep supply/demand balances tight and upward price pressure firmly in place this summer, industry experts said. The upbeat outlook developed across an LDC Gas Forums Southeast conference panel moderated Tuesday by NGI’s James Alston,…
Hot Weather, Low Storage Inventories Continue Driving Global Demand for Natural Gas — LNG Recap
Global natural gas prices were mixed on Monday, picking up where they left off last week, but the outlook remains strong as bullish market fundamentals in Europe, Asia and South America remain largely unchanged. The front-month National Balancing Point and Title Transfer Facility contracts in Europe traded sideways last week, but they remained stable around…
U.S. Dominated Global LNG Trade in 2020, Says IGU
The United States accounted for all of the world’s new liquefied natural gas (LNG) production capacity last year, as exports grew despite challenges created by the Covid-19 pandemic, according to the 12th annual World LNG Report by the International Gas Union (IGU). Cameron, Freeport and Elba Island LNG added 20 million tons (Mt) of annual…