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Stronger Norwegian Output, Return of Freeport LNG Help Push TTF Lower – LNG Recap

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…

September 18, 2023
Australian Labor Strikes, Norwegian Maintenance Continue Pushing TTF Prices Higher – LNG Recap

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…

September 11, 2023
Natural Gas Players Look Past Short-Term Risk to Long-Term Supply Gap with Flurry of Deals – LNG Recap

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…

September 5, 2023
More Australian Offshore Workers Approve Strike Action, Spiking Global Natural Gas Prices – LNG Recap

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…

August 21, 2023
European Natural Gas Prices Mixed as Market Weighs Possibility of Strikes in Australia – LNG Recap

European Natural Gas Prices Mixed as Market Weighs Possibility of Strikes in Australia – LNG Recap

European natural gas prices saw mixed trading as the week got underway with the market’s unease over supply risks this winter showing further out the curve. The September and October Title Transfer Facility (TTF) contracts declined slightly on Monday and were trading near $11/MMBtu and $13, respectively. Winter contracts gained across the board and traded…

August 14, 2023

More Talks Scheduled to Avoid Strikes at Australia LNG Terminals – The Offtake

Negotiations to avert labor strikes at Woodside Energy Ltd.’s North West Shelf LNG export facility and Chevron Corp.’s Wheatstone and Gorgon facilities continued Friday. Another round of negotiations between the Offshore Alliance and the companies is scheduled for Tuesday (August 15). Talks over wages and working conditions have continued for months. The facilities can produce a combined 40 million metric tons/year of LNG, representing about 10% of global capacity.

August 11, 2023
TTF Rally Loses Steam, but Specter of Australian LNG Strikes Puts Market on Edge

TTF Rally Loses Steam, but Specter of Australian LNG Strikes Puts Market on Edge

European natural gas prices fell Thursday after the dust settled from Wednesday’s rally over supply concerns tied to potential strikes at LNG terminals in Australia that are likely to keep the market more volatile until labor negotiations are resolved. The prompt Title Transfer Facility (TTF) contract closed 7% lower to finish just shy of $12/MMBtu…

August 10, 2023
European Natural Gas Prices Jump as LNG Supplies, Norwegian Volumes Limited – LNG Recap

European Natural Gas Prices Jump as LNG Supplies, Norwegian Volumes Limited – LNG Recap

European natural gas prices bounced back on Monday as competition for LNG with Asia remains strong and more Norwegian supply outages are expected this month amid another heavy round of maintenance offshore. The prompt Title Transfer Facility (TTF) contract finished 6% higher Monday to close near $10/MMBtu. TTF gained further out the curve as well,…

August 7, 2023
Europe’s Drop in Summer LNG Imports, Hefty Storage Could Still Spell Upside Risk in Winter

Europe’s Drop in Summer LNG Imports, Hefty Storage Could Still Spell Upside Risk in Winter

Europe’s hefty natural gas storage and diminished natural gas demand has led to months of decline in LNG imports, but global competition still presents an upside price risk for winter in a tightening market. European LNG imports dropped from May to June after peaking at 9.50 million tons (Mt) in April. However, the month-on-month decline…

July 26, 2023
India’s Cost-Sensitive Buyers Have Important Role to Play in LNG Spot Price Formation – Column

India’s Cost-Sensitive Buyers Have Important Role to Play in LNG Spot Price Formation – Column

The Indian economy was not immune to the economic slowdown caused by the global pandemic in 2020. As in many countries, lockdowns led to a spike in unemployment and quick drops in most measures of economic activity.

July 19, 2023