Europe

Liquefied natural gas (LNG) cargoes are returning to Europe after a hiatus that saw vessels flocking to Asia amid a historic cold snap last month. Milder weather in Asia along with stronger supply levels have spot prices for March delivery trending below $8.00/MMBtu, disincentivizing European reloads and marginal cargoes from the United States. Asian spot…

Global natural gas prices are falling as the week gets underway on warmer near-term weather in parts of the world and a rebound in supplies after the market was squeezed last month amid a historic cold snap across much of the northern hemisphere. While prices in many European markets bounced back to finish last week…

Global natural gas prices continued to normalize last week as forecasts warmed and more supplies became available.  The Japan Korea Marker spot price fell below $9.00 to finish at $8.90/MMBtu after it shot above $30 to reach an all-time high earlier this month. Meanwhile, prompt European natural gas prices were steady, moving sideways throughout most…

The rally in Asian natural gas prices has finally lost momentum as temperatures have warmed and supplies are creeping up across the region. Spot prices fell below $10.00/MMBtu on Monday as the February contract gave way to March delivery. The decline followed a rapid climb from late November through last week when Japan Korea Marker…

Snow and bitter cold from Europe to North Asia, which has pushed liquefied natural gas (LNG) and electricity prices to record-setting highs, hasn’t eased as the rally stretches into another week. Winter weather has combined with supply outages and shipping constraints in recent weeks to create a historic stretch for the global gas market. Temperatures…

Europe has received its first shipment of natural gas via a $40 billion infrastructure project that took seven years to complete, further diversifying the continent’s energy supplies.  For the first time ever, Azerbaijan’s natural gas reached Europe through a direct pipeline connection as the last segment of the Southern Gas Corridor — the Trans-Adriatic Gas…

Two of Asia’s leading shipbuilders saw an influx of orders for new liquefied natural gas (LNG) carriers this month, capping an otherwise slow year for newbuilds.  Korea Shipbuilding & Offshore Engineering Co. Ltd. (KSOE) said in a regulatory filing last week that it landed various contracts to build nine LNG carriers. KSOE is scheduled to…

A roundup of news and commentary from NGI’s LNG Insight  European LNG imports were down 42% year/year over the last seven days, Tudor, Pickering, Holt & Co. said Wednesday. North Asian prices are pulling cargoes away from the continent, while warmer weather has dented demand. The forecast is growing chillier.  Vitol has reportedly sold an…

The UK would end government-funded financial support for overseas oil, natural gas and coal projects under a plan announced this month by Prime Minister Boris Johnson as the country continues to jockey for position in the global fight against climate change.  The policy would end taxpayer support for export finance, aid funding and trade promotion…