Labor unions in Australia have escalated negotiations with Woodside Energy Group Ltd. and Chevron Corp. by voting overwhelmingly to go on strike if necessary. Strikes haven’t started, but the Australia Workers’ Union and Maritime Union authorized protected industrial action. The move sets the stage for potential work stoppages that could put nearly 10% of global LNG capacity at risk of shutting down.
TTF
Articles from TTF
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,…
EU’s Energy Regulator Requests More Participation, Data for LNG Benchmark
The European Union’s (EU) energy regulatory agency is asking LNG market participants to more consistently share information about transactions in the bloc to improve price assessments, or they could be reported for noncompliance. The EU Agency for the Cooperation of Energy Regulators (ACER) has been reporting its liquefied natural gas benchmark price since April after…
Global Natural Gas Prices Remain Muted as Market Looks Ahead to Winter, 2024 Demand – LNG Recap
Despite sweltering heat waves and a slight lift in European prices, LNG market activity is expected to remain light as buyers and U.S. producers hone in on the future supply and demand scenario. After a brief climb to almost $11/MMbtu last week, the Dutch Title Transfer Facility (TTF) dropped to $8.705/MMBtu at the end of…
Natural Gas Forward Prices Strong in California, but Traders Eye Winter for Widespread Rally
With dangerous heat leaving California electric grid operators struggling to meet heightened demand, natural gas forward prices in the southern part of the state rallied sharply from July 20-26, according to NGI’s Forward Look. Daytime temperatures have lingered at or above the century mark for most of July in parts of California, driving up cooling…
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…
TTF Spikes Despite High Storage as Market Weighs Tightening LNG Supply – LNG Recap
European natural gas prices ticked up again on Monday despite healthy storage on the continent and an apparent lull in Asia, hinting at anxiety over falling LNG imports. Upward movement in European prices was previously expected to be limited for the rest of July after several key gas facilities in Norway wrapped up heavy maintenance…
More LNG Cargoes Head to Asia for Higher Prices – LNG Recap
Asian LNG prices remain higher than those in Europe as weak demand, high storage inventories and mild weather on parts of the continent are keeping a lid on the cost of natural gas. The August Title Transfer Facility (TTF) contract fell by 12% last week and the Japan-Korea Marker (JKM) prompt futures contract followed suit…
European Natural Gas Prices Fall as Supply Outages Ease – LNG Recap
European natural gas prices fell again on Monday, picking up where they left off last week as the market is for now well supplied and storage inventories are on track to fill ahead of winter. The prompt Title Transfer Facility (TTF) fell by 10% Monday and settled below $10/MMBtu. The contract has lost steam after…
Global Natural Gas Market Unfazed by Revolt in Russia – LNG Recap
Global natural gas markets were calm Monday despite a brief armed rebellion in Russia over the weekend that called into question President Vladimir Putin’s grip on power. “The market seems to be reacting very little to events in Russia,” said Engie EnergyScan analysts. “One might say that this is to be expected, given that the…