An unprecedented number of LNG vessels are floating offshore Europe as regasification terminal congestion and whipsawing prices further complicate the supply situation. At least 22 ships loaded with liquefied natural gas had been moored on Wednesday for more than five days around European regasification hubs, according to data from Kpler. The majority of the ships…
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Articles from TTF
Japan, China Move to Conserve Natural Gas as LNG Price Volatility Rises
Asian countries that typically buy massive volumes of LNG are moving to build contingencies for procuring expensive cargoes and reserving excess volumes as risks of colder winter weather and continued competition with Europe sustain market volatility. Asian natural gas prices have been steadily descending for more than a week, following the Dutch Title Transfer Facility…
European Natural Gas Prices Drop to Three-Month Low Despite Russian Supply Threats
European natural gas prices continued declining Monday to the lowest point in three months on mild weather forecasts and reports of heightened storage, despite threats from Russia of a complete end to pipeline exports. After a brief mid-week jump last Wednesday (Oct. 12), natural gas linked to the Dutch Title Transfer Facility (TTF) benchmark continued…
EU Countries Ponder Natural Gas Price Cap Despite Confusion
European Union (EU) energy ministers will likely weigh proposals for natural gas price caps and other protective measures after weeks of questions from members, but researchers expect a consensus will be hard fought. Leaders from the 27 EU member countries are expected to meet Thursday and Friday to possibly implement a price cap on gas,…
European Natural Gas Prices Mixed Amid Flood of Supplies, Market Intervention – LNG Recap
LNG continues to flood Europe, pushing the Title Transfer Facility (TTF) to a three-month low in intraday trading on Monday when the prompt month contract again finished lower. Fundamentals on the continent are comfortable for the moment, with storage inventories nearly 91% full and above the five-year average. Warmer weather is also expected to continue…
Russian Natural Gas Halt Threatens LNG Market Tightness, European Storage Shortfalls, Says IEA
European natural gas prices have continued to decline since the Nord Stream (NS) pipeline systems connected to previously vital Russian gas were damaged, but the International Energy Agency (IEA) warned LNG markets could be drastically impacted into next year. In the IEA’s latest natural gas market report, researchers said the blows to Russian gas imports…
EU Members Disagree on Natural Gas Price Cap, Adopt Other Measures to Ease Energy Crisis
To help cope with the European energy crisis, all twenty seven European Union (EU) members approved several measures at a Brussels meeting on Friday, including levies on windfall profits made by fossil fuel companies. But, after weeks of debate from members and market speculation, a bloc-wide cap on natural gas import prices has been tabled…
Asian LNG Price Dips on Japan’s High Stocks, TTF Rises
The price spread between the ICIS East Asia Index (EAX) and Dutch TTF widened over the week, with East Asian spot prices dipping on high utility inventory levels in Japan and the latest tender cargo awards from south and southeast Asia.
Nord Stream Pipe Damage Sparks European Natural Gas Price Surge
European natural gas and power prices reversed a nearly week-long decline on Tuesday as news of potential damage to the Nord Stream 1 (NS1) and Nord Stream 2 (NS2) pipeline networks stoked concern about the future of Russian supply to the continent. The operator of NS1, Nord Stream AG, detected a drop in pressure late…
Europe Searching for Alternative Benchmark Amid TTF, LNG Disconnect
Proposals by the European Commission (EC) to tame soaring energy costs don’t alter the role natural gas plays on the continent and may do little to rein in the volatility that has ruled the market this year. The EC proposed revenue caps on some power producers, a windfall tax on the excess profits of fossil…