Europe

A roundup of news and commentary from NGI’s LNG Insight European natural gas prices fell for a seventh consecutive day on Thursday. Warmer weather, more LNG deliveries and a decline in industrial demand continued weighing on prices that recently hit record highs of about $60/MMBtu. British and Dutch futures declined by about $3 Thursday, when…

European natural gas prices fell for a sixth consecutive day on Wednesday, the longest stretch of declines in more than a year, after they hit record highs last week. The February Title Transfer Facility (TTF) contract has almost been cut in half since it hit a record  of nearly $60/MMBtu on Dec. 21. The contract…

Liquefied natural gas (LNG) tankers en route to Asia are abruptly being rerouted to Europe to take advantage of wide premiums as prices on the continent again soared to new records on Tuesday.  Analysts are watching nearly 10 vessels that have changed course as diversions have increased in recent days along with a rally in…

European natural gas prices again charged higher on Monday, setting new records amid freezing temperatures forecast this week and the prospect of limited supplies as the winter unfolds.  The Dutch Title Transfer Facility (TTF), a European gas benchmark, maintained a rare premium to the Japan-Korea Marker (JKM) in Asia. Both the January and February TTF…

Shipping congestion that has slowed passage through the Panama Canal since last year amid strong demand for liquefied natural gas (LNG) and other goods between Asia and the United States has finally eased, after wait times peaked at 16 days for vessels with unreserved slots.  The historic cold that left Asian inventories depleted last winter…

A trio of Dutch companies said this week it is on track to complete by 2023 the first bio-liquefied natural gas (bio-LNG) production facility to serve the maritime industry after receiving $4.8 million in funding from the European Union (EU). Attero, Nordsol and Titan LNG have partnered to build a facility capable of producing 2,400…

With liquidity wearing thin ahead of the holidays, traders were not looking to take on weather risks midweek despite continued uncertainty in the forecast. The January Nymex gas futures contract settled 5.5 cents higher day/day Wednesday at $3.802/MMBtu. February climbed 4.8 cents to $3.761. At A Glance: Cold coming, but expected to last Storage deficit…

A breakneck rally in European natural gas prices continued Wednesday, propelling benchmarks on the continent to abnormally high premiums above those in Asia and creating massive arbitrage opportunities for U.S. liquefied natural gas (LNG) exports.  Dutch front-month futures have gained about $10/MMBtu over the last week. The January Title Transfer Facility (TTF) contract finished nearly…

Egypt is moving forward with its plans to become a regional natural gas hub as its two liquefied natural gas (LNG) plants are running at full capacity for the first time in more than a decade.   Egypt’s Petroleum Minister Tarek El Molla told news media at the East Mediterranean Gas Forum last month that the…