The benchmark natural gas prices in Europe and the UK dropped early on Friday after Chevron and trade unions settled a labor dispute which led to the unions calling off the strikes at two large LNG export facilities in Australia. The front-month futures at the Dutch TTF hub, the benchmark …
Read More »Turkmenistan’s Natural Gas Boom Sparks European Interest
Turkmenistan’s huge gas reserves have been generating considerable interest from potential importers following Ashgabat’s announcement in late July that it is open to the development of a pipeline to carry its gas across the Caspian and on to Europe. Most significant so far has been the interest shown by Hungary, …
Read More »European Gas Holds Gains as Australia LNG Strikes Escalate
European natural gas prices held gains as escalating strikes in Australia add to concerns about supply disruptions from Norway and a major export facility in the US. Benchmark futures rose as much as 3.2% on Thursday, after jumping to the highest in over two weeks in the previous session. Liquefied …
Read More »European Gas Prices Soar as Australian Workers Begin Strike
European gas prices jumped on Friday after workers at liquefied natural gas facilities in Australia began strike action, stoking fears of disruption to global supplies. Prices of TTF, the European benchmark, rose 13 percent to €34.50 per megawatt hour ($10.8 per million British thermal units) according to LSEG data. The …
Read More »Europe’s Shift to LNG might Push others Back to Coal
Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices. This means some buyers may be priced out of this market for good. That, in turn, means they will turn to other sources of energy—like coal. It’s a domino effect even …
Read More »Europe’s Gas Price Premium for November Makes Hoarding Lucrative
A higher natural gas price in Europe in November is making it lucrative to hold back supplies for a month until the arrival of lower temperatures can boost profits. Futures for November are about €10 euros a megawatt-hour more expensive than gas delivered next month, with no other contract this …
Read More »Gazprom’s H1 Profit Plunges as Natural Gas Deliveries to Europe Slump
Russia’s gas giant Gazprom has reported a massive drop in its first-half net profit as deliveries to Europe have slumped compared to 2022 when Russia was still supplying pipeline gas to its European customers for most of the first half of last year. Gazprom’s net profit plunged by 8.5 times …
Read More »European Gas Prices again Top $400; Gazprom Requests 41.6 mcm Transit via Ukraine
The spot price for gas in Europe has again risen above $400 per thousand cubic meters after falling below that level at the end of last week. It had soared towards $500 before falling back to $355 amid concerns regarding a labor dispute and possible industrial action at LNG plants …
Read More »European Gas Prices Soar on Australia LNG Workers’ Ultimatum
European natural gas prices jumped as workers serving a key export project in Australia prepare for a strike that could put a significant dent in global supplies in the run-up to winter. Disruptions in Australia risk impacting 10% of global liquefied natural gas exports, a prospect that has kept European …
Read More »Europe Gas Set for Third Weekly Gain on Australia Strike Jitters
European natural gas futures headed for a third weekly gain as concerns over potential strikes in Australia inject renewed volatility into the market. The possibility of walkouts at three liquefied natural gas facilities operated by Chevron Corp. and Woodside Energy Group Ltd. has taken center stage in recent days, as …
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