Blog
European gas storage levels remain on track to reach 80-85% of capacity by the start of the next winter, with the current level of fill quite being differentiated across European countries. Among major European markets, Italy currently has the largest volume of gas in storage as a % of total capacity, having crossed 75% last […]
Global LNG supply growth is set to accelerate in 2026 to its fastest pace since 2019, as new major LNG liquefaction ramp-up their production. This strong growth will be primarily supported by North America and Qatar’s North Field East expansion and mark a new phase for the global LNG market. In the US, Plaquemines LNG […]
A global gas market: Despite all the volatility, the correlation between TTF and JKM remained at near record levels in the first half of 2025, indicating that regional markets are increasingly interconnected and interdependent. The TTF-JKM correlation strengthened from an average of around 0.5 between 2012-2016 to just over 0.9 since 2020, reflecting the profound […]
Germany’s largest gas storage site is still only 2% full, highlighting the challenge to fill up storages when seasonal spreads are tight and regulatory incentives are not sufficient. Rehden is Europe’s second largest facility with a capacity of near 4 bcm. It plays a key role in ensuring the gas supply security of northwest Europe. […]
European LNG imports surged by a staggering 40% (or 22 bcm) yoy in H1 2025 to a new record high of 75 bcm. Four key factors contributed to this very strong growth: (1) Higher EU gas demand: gas consumption increased by near 5% (or 8 bcm) in H1 2025, primarily driven by lower renewables power […]
The Middle East crisis fuelled strong price volatility across Asia and European markets through June. The fear premium drove-up TTF and JKM prices to a four-month high, before rapidly fading away. In Europe, TTF prices rose by 14% yoy to an average of $12.4/mmbtu – their highest monthly level since January. At the height of […]
(June 20) According to various news reports the Iranian parliament voted in favour to close the Strait of Hormuz, the worlds single most important chokepoint. The final approval remains with the Supreme National Security Council. Hormuz alone accounts for just over 20% of global LNG trade – more than Norway’s annual piped gas supplies to […]
TTF prices rose to above €40/MWh this morning (June 18), their highest level since early April, amid the escalating conflict between Israel and Iran. TTF surger by more than 15% since 10 June, and while some of this has been sentiment (fear) driven, the conflict is already impacting natural gas markets: (1) Israel shut production […]
The unfortunate events unfolding in the Middle East are a stark reminder of the region’s central role for both regional and gas supply security. South Pars or North Field is the world’s largest gas field, producing each year over 350 bcm of gas -more than the European Union’s annual gas consumption. South Pars accounts for […]