Global prices remained steady for the weekend as international buyers continue to monitor the winter outlook, but another potential disruption at Freeport LNG could help stoke anxiety. Nominated flows of feed gas to the facility on the Gulf South Pipeline system, Freeport’s primary supply route, dropped to 54% of design capacity on Thursday and remained…
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Strong Supplies, Mild Weather Push Global Natural Gas Prices Lower – LNG Recap
Global natural gas prices continued falling on Monday, extending last week’s losses amid ample supplies and mild weather forecasts. In Europe, the benchmark Title Transfer Facility (TTF) declined by nearly 7% as the week got underway. The prompt month finished Monday near $14/MMBtu. Storage inventories on the continent are at 99.6% of capacity, compared to…
European Natural Gas Prices Gain as Egypt Says Pipeline Imports Stop – LNG Recap
Egypt’s government said Sunday that its natural gas imports have stopped as Israel intensified its fight against Hamas in Gaza. Natural gas prices in Asia and Europe stabilized Monday after declines last week. The market again braced for the possibility of a broader conflict in the Middle East. Egypt said Sunday that gas supplied from…
TTF Rally Pauses as Market Weighs Mild Weather, Strong Norwegian Output – LNG Recap
The rally in European natural gas prices lost steam on Monday with a warmer weather forecast and ample Norwegian production offsetting the prospect of a broader conflict erupting in the Middle East. The benchmark Title Transfer Facility (TTF) declined 10% Monday and finished just below $15/MMBtu after charging higher last week following Israel’s declaration of…
European Natural Gas Prices Rally on Extended Norwegian Supply Outages – LNG Recap
Global natural gas prices ticked higher on Monday driven partly by ongoing supply fears as winter approaches. Norwegian exports to the rest of Europe continue to gradually ramp back up. Nominations were at 254 million cubic meters (MMcm) on Monday and closer to normal levels of over 300 MMcm. That’s up from 175.9 MMcm a…
Global Market Increasingly Buying Volumes at Prices Linked to Natural Gas Hubs, IGU Says
Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan-Korea Marker and the Dutch Title Transfer Facility hit record levels last year as buyers scrambled to secure supplies amid one of the worst energy crises in decades, according to the International Gas Union (IGU). The increase in global gas-on-gas competition (GOG)…
Stronger Norwegian Output, Return of Freeport LNG Help Push TTF Lower – LNG Recap
European natural gas prices declined Monday despite a further escalation in Australian labor strikes at Chevron Corp.’s LNG export terminals over the weekend. The October Title Transfer Facility (TTF) contract declined 6% Monday to finish below $11/MMBtu. Prices were pushed lower by an uptick in Norwegian natural gas production and mild weather, along with strong…
Australian Labor Strikes, Norwegian Maintenance Continue Pushing TTF Prices Higher – LNG Recap
European natural gas prices climbed for a third straight session on Monday with labor strikes well underway at LNG terminals in Western Australia and maintenance work at production sites offshore Norway taking longer than expected and cutting into supplies. The prompt Title Transfer Facility (TTF) contract finished 4% higher on Monday and climbed back above…
Natural Gas Players Look Past Short-Term Risk to Long-Term Supply Gap with Flurry of Deals – LNG Recap
Global natural gas markets were tepid Tuesday despite growing risks of Australian LNG work stoppages. While the global natural gas community gathered in Singapore for the start of the Gastech 2023 conference, workers at Chevron Corp.’s Gorgon and Wheatstone liquefied natural gas terminals disclosed plans for walkouts. Representatives for the Offshore Alliance said workers could…
More Australian Offshore Workers Approve Strike Action, Spiking Global Natural Gas Prices – LNG Recap
Global LNG prices ratcheted up at the start of the week as the latest news on potential Australian labor action at one of the country’s largest export facilities increased the risk of European and Asian competition ahead of winter. The majority of union workers at Woodside Energy Group Ltd’s Northwest Shelf (NWS) offshore platforms, which…