Europe

HOUSTON (ICIS) –Northeast Asia spot prices eased last week on potential softening of demand but rebounded mid-week, as increased crude oil prices and supply tightness drove up price discussions.

Russia’s liquefied natural gas (LNG) exports remained strong in March and surpassed year-ago levels despite efforts by some buyers to curb purchases from the pariah state. Russian LNG exports increased by 19% year/year to 3.1 million tons (Mt) last month, according to shipbroker Banchero Costa. Shipments from the country were also 25% higher than they…

As oil refiners worldwide seek to distance themselves from Russian crude imports, a consultancy recently predicted a “rebalance” in the global crude oil trade. The shift would occur via “‘crude swapping’ between ‘self-sanctioning’ advanced economies and developing markets,” said Wood Mackenzie’s Alex Sun, managing consultant. After the United States imposed sanctions on Russian crude oil…

European natural gas prices fell for a seventh consecutive day on Monday as an armada of liquefied natural gas (LNG) vessels makes its way toward the continent and pipeline imports remain stable despite fighting in Ukraine.  The May Title Transfer Facility (TTF) contract slipped by more than $1 to finish near $32/MMBtu Monday. The market…

LONDON (ICIS) –The LNG market softened with Asian LNG and European gas prices settling lower over the week. Latest tender awards in Asia saw prices in the low $30s/MMBtu.

The European Union (EU) said Tuesday it would ban Russian coal imports worth 4 billion euros ($4.4 billion) annually as part of a fifth round of sanctions against the country. “This will cut another important revenue source for Russia,” said European Commission (EC) President Ursula von der Leyen.

European natural gas prices were muted Monday despite the threat of additional sanctions on Russian energy exports to the continent and the possibility of further supply disruptions if buyers there don’t pay in rubles as the country has demanded. Alleged atrocities by the Russian military near Kyiv prompted a new round of calls for more…

SINGAPORE (ICIS) –The ICIS TTF April ’22 price rose to $38.64/MMBtu on 30 March, 11% up day on day. This is the highest contract price since 11 March. Sharp gains were also seen on the May ’22 contract, which also rose 11% day on day, closing at $38.85/MMBtu.

Sub-Saharan Africa (SSA) is looking to boost its natural gas exports over the next eight years, a supply source that could help supplant the loss of Russia’s imports to Europe. The SSA could expand liquefied natural gas (LNG) exports to 60 million metric tons/year (mmty) by 2025 and to another 74 mmty by 2030, according…