Europe

Intercontinental Exchange Inc. (ICE) said Friday it would launch a market for trading Title Transfer Facility (TTF) contracts in London that are subject to the European Union (EU) cap on the continent’s gas benchmark that takes effect next month. “ICE’s purpose is to create markets to allow our customers to manage their risk and we…

Algeria, Europe’s third largest natural gas supplier, is planning to boost LNG and pipeline exports to the continent this year as it continues to wean off Russian supplies. Nearly 85% of the country’s gas exports are already designated for Europe, making Algerian President Abdelmadjid Tebboune’s pledge to nearly double them to 100 billion cubic meters…

The European natural gas market was unfazed by colder weather and weak deliveries from Russia and Norway on Monday, when prices dropped amid a broader outlook that remains largely unchanged. Lower temperatures in Northwest Europe are forecast this week, while freezing temperatures and a drop in wind power in the UK prompted the grid operator…

Europe’s energy regulators and financial market authority reported the European Union’s (EU) natural gas price cap policies haven’t appeared to impact trading, but the bloc’s price control mechanism hasn’t been tested. The European Securities and Markets Authority (ESMA), the EU’s independent financial markets regulator, delivered a preliminary report Monday as part of the European Council’s…

Equinor ASA has discovered a 2-11 billion cubic meters (Bcm) natural gas reserve on the Norwegian continental shelf (NCS) as a part of its foray into deepwater exploration near existing license blocks to unlock more supplies for Europe. Dubbed the Obelix Upflank, the discovery was made around 14 miles from Equinor’s prolific Irpa discovery. Late…

The European Union (EU) published its first daily LNG spot price assessment on Thursday for transactions in Northwest Europe, but it again failed to collect adequate data for deals in South Europe. The EU Agency for the Cooperation of Energy Regulators (ACER) reported a delivered ex-ship (DES) spot price in Northwest Europe for the first…

The sinking cost of natural gas and LNG prices across the world in recent weeks has influenced banks and energy analysts to lower their price forecasts for the year as global storage inventories and demand hold steady. Expectations have especially shifted for the Dutch Title Transfer Facility, which has dropped around 80% since reaching a…

European natural gas prices rebounded on Tuesday amid colder weather and signs that cheaper LNG cargoes have brought some Asian buyers back to the market. The prompt Title Transfer Facility (TTF) contract finished at nearly $19/MMBtu after falling to $17.522 on Monday. It was a rare gain after weeks of losses that have pushed the…

Egypt ramped up LNG exports last year to maximize use of its terminals and further its role as a hub of Mediterranean and Middle Eastern supply  to Europe. Minister of Petroleum and Mineral Resources Tarek El-Molla said in a press briefing Wednesday that Egypt exported around 8 million tons (Mt) of liquefied natural gas during…