Qatar LNG exports could begin recovering in the coming weeks as shipping activity through the Strait of Hormuz resumes. Writing on recent developments in the Gulf, Francesco Sassi notes that Qatar is seeking to restore production and exports at Ras Laffan, although significant uncertainties remain regarding the pace and extent of any recovery. During the […]
European gas prices have retreated sharply this week as markets reassess the likelihood of prolonged disruptions to LNG trade through the Strait of Hormuz. Dutch TTF futures have fallen nearly 10% from the highs reached during last week’s escalation in tensions involving Iran, suggesting that much of the geopolitical risk premium has begun to unwind. […]
The European gas market is facing growing uncertainty as disruption to LNG trade through the Strait of Hormuz shows little sign of ending. This market update argues that lower storage injections, continued geopolitical tensions and the prospect of a prolonged supply disruption are increasing the risk of higher price volatility and tighter market conditions ahead […]
Gas-fired generation remains a key driver of electricity prices across Europe, leaving households and industry exposed to volatility in global gas markets. This analysis argues that despite rapid growth in renewable energy, gas-fired power plants continue to set wholesale power prices in many European markets, with countries such as Italy, Ireland and the UK among […]
Global gas prices remained under pressure in May, with both TTF and JKM trading well above their last year’s levels, albeit below the highs reached earlier in March. In Europe, TTF month-ahead prices were up by 40% YoY to an average of just above $16/mmbtu. Lower LNG supplies together with less piped imports from Norway […]
Russian LNG shipments to Asia have started three weeks earlier than usual, with Arctic routes helping Russia capture higher Asian market premiums. The strategic intent is to maximise the financial benefits of selling LNG to Asian markets, cutting shipping times while exploiting significant price premiums in the wake of the Hormuz blockade. “Earlier is better,” […]
While Hormuz remained essentially closed through May, new LNG supply offset 90% of the decline in Qatari and Emirati LNG. LNG supply from the Gulf declined by near 9 bcm in May, equating to around 45% of the EU’s natural gas demand that month, and this unprecedented supply disruption is profoundly altering short-term market dynamics. […]
Competition for LNG cargoes is expected to intensify across Europe ahead of winter, with new market analysis highlighting Italy and Germany as emerging leaders in attracting global LNG supply as buyers seek to refill gas storage inventories amid tighter market conditions. Italy and Germany are emerging as Europe’s most competitive LNG destinations ahead of winter, […]
European gas storage refill rates are increasingly diverging from historical norms as tighter LNG market conditions, reduced Russian pipeline supply and shifting Atlantic cargo flows raise fresh concerns over Europe’s ability to comfortably replenish inventories ahead of winter. There are some interesting dynamics this year in the rate of injections/withdrawals into/from European gas storage. Withdrawals […]