Europe

The global gas market continues to focus on the newly-agreed European cap on natural gas prices. The regulatory moves from the European Union fuelled the volatility on the European market, leading the TTF to rise on the news before falling consecutively session after session. The mild temperatures for the time of year in Europe and strong LNG flows also added to the bearish sentiment.

A roundup of news and commentary from NGI’s LNG Insight Vessel traffic stopped Friday afternoon on waterways serving the Calcasieu Pass, Cameron, Corpus Christi and Sabine Pass LNG terminals in Texas and Louisiana.  Pilot service was suspended on the Sabine-Neches Waterway, Corpus Christi Ship Channel and the Calcasieu Ship Channel as an arctic front swept…

A fatal explosion on a natural gas pipeline in western Russia, which moves supplies to Europe, did little to move prices on the continent after a unit of Gazprom PJSC said deliveries were being rerouted. Three people were reportedly killed and another was injured during maintenance on a stretch of the Urengoy-Pomary-Uzhhorod pipeline in the…

Intercontinental Exchange Inc. (ICE) has warned European Union (EU) members that implementing a cap on natural gas prices without allowing markets time to adjust would cause more instability and possibly force it to reconsider trading in the Netherlands. ICE has alerted EU members in a memo that proposals for an emergency mechanism to limit natural…

Editor’s Note: This content is provided courtesy of Independent Commodity Intelligence Services (ICIS). Visit natgasintel.com/icis for more information. HOUSTON (ICIS) — Asia spot prices held relatively steady this week, with the January ‘23 ICIS East Asia Index (EAX) up less than 3% on 15 December from one week ago. In recent days the EAX was…

The European Union has reached a preliminary agreement on a landmark plan to tax imports of carbon-intensive goods like aluminum, cement, electricity, fertilizers and hydrogen. It does not include commodities like natural gas.

European natural gas prices remained stable on Monday despite bitter cold that’s gripping the northern part of the continent. Prices spiked briefly last week as colder weather descended, but ample storage stocks and a steady flow of LNG supplies have kept a lid on both the Title Transfer Facility (TTF) and the National Balancing Point…

MEXICO CITY (ICIS) — European gas prices were boosted by forecasts of colder temperatures in Europe, which supported consumption for both domestic and gas-for-power demand.

Bitter cold forecast for parts of Europe this week is set to bring the first major test of the winter heating season for the continent’s gas market and its robust storage inventories.  The UK’s National Balancing Point and the Dutch Title Transfer Facility (TTF) both gained about 3% on Tuesday and settled above $40/MMBtu. The…