Europe

European natural gas prices surged on Monday, lifted by a jump in other commodities and ongoing competition for LNG amid a tightening pool of supplies.  The prompt Title Transfer Facility (TTF) contract surged by more than 20% to finish at nearly $9/MMBtu. Monday’s sharp spike came after nine straight weeks of losses, when TTF fell…

An unplanned outage that started Wednesday at Equinor ASA’s Hammerfest LNG export facility in Norway is expected to last until June 8, according to a notice submitted to Gassco, the country’s transmission system operator.

Germany’s government continues to face criticism from environmental groups for its ambitious LNG import capacity plans and for supporting natural gas at the recent G7 meeting in Japan.  Claims that Germany overestimated its liquified natural gas capacity needs have not been confirmed by the government. Two proposed onshore terminals in Stade and Wilhelmshaven, and the…

Weak prices for spot LNG and European natural gas, coupled with high levels of floating inventory, have triggered discussion about something that was unthinkable only a year ago – the prospect of U.S. cargo cancellations.

Despite slight gains on Tuesday, European natural gas prices continued to trade at some of the lowest levels since April 2021, following eight straight weeks of losses that have more consistently widened the spread to Japan-Korea Marker (JKM) prices.   The July Title Transfer Facility (TTF) contract dipped below $8/MMBtu for the first time in more…

Despite a current lull in LNG prices and trading activity, shipping company Cool Co. Ltd. (CoolCo) expects the long-term focus on natural gas supply security to make independent vessel owners think twice about short-term commitments for this winter. The Bermuda-based company recently reported in a market outlook that vessel owners could have more incentive to…

Production has resumed at the 1.7 Bcf/d Cameron LNG facility in Louisiana. Spokesperson Anya McInnis said annual maintenance on Train 2, which began April 28, has been completed. NGI data showed feed gas deliveries to the terminal increased Tuesday.

Weak industrial demand and mild weather pushed European natural gas prices even lower on Monday after seven straight weeks of losses. The prompt Title Transfer Facility (TTF) contract fell below $10/MMBtu last week for the first time since June 2021 and stayed there Monday after falling another 1.5%. If prices continue to fall to near…

Heads of state from the Group of Seven (G7) economically advanced nations emphasized the need to “accelerate the phase out of our dependency on Russian energy” in a statement this weekend at the conclusion of a summit held in Hiroshima, Japan. Stressing “the global impact of Russia’s war on energy supplies, gas prices and inflation,…