If Q2 European gas market can be accompanied by a soundtrack, it will be ‘Right Here, Right Now’ by Fatboy Slim. The name of that song accurately describes the dynamism of things taking place since the very beginning of this year’s gas summer. Europe has already begun to experience lower production from the NCS. Norwegian […]
The May 2021 Gas price rebounded 9.2% to 51.15p/therm last week, as a combination of maintenance at gas facilities in the North Sea and forecasted older weather resulted in a short system, pushing prices up. This bullish sentiment continued across the week, with strong gains seen across the wider energy complex. Further gains in prices […]
European gas prices increased sharply yesterday, supported by cold weather and weak pipeline supply. Indeed, although they increased yesterday to 300 mm cm/day on average, compared to 286 mm cm/day on Friday, Russian flows were still below the 324 mm cm/day of Thursday as Yamal flows remained below their pre-outage level. As for Norwegian flows, […]
C and N Europe will be under the influence of high pressure over the next 2 weeks, therefore widespread stable weather conditions are expected. This means much lower than normal precipitation and wind generation levels in UK, France and Germany. On top of that, temperatures will remain below normal almost everywhere in the continent until […]
Caught in cold: European daily gas consumption rose by a staggering 50% since last week, amidst a winter-like coldsnap in April. Storage sites, which already entered injection mode at the end of March, played a key role in meeting additional gas demand at first by reducing injection rates and second by turning back into withdrawal […]
It looks as if this year’s weather is paying off the debts accumulated during the winters of ‘19 and ‘20 when the European gas market lost a sizeable portion of heating demand. Although the winter has already passed, it is still early to disregard the temperature factor. This can be seen clearly in the Champions […]
The May 2021 Gas fell 0.7% to 46.86 p/therm last week, with a healthy and consistent LNG supply pushing prices down. LNG send-out looks to have recovered following the clearing of the blockage in the Suez Canal, with 3 deliveries at UK ports on Thursday. Any significant losses were limited by cooler temperatures, providing price […]
The May 2021 Gas rose 5.1% to 47.21 p/therm last week as colder temperatures drove up demand and on lower LNG send-out. The backlog of ships travelling though the Suez Canal was cleared over the weekend, around 12 days after the massive Ever Given ship grounded. But with European gas storage already running lower than […]
Week 14 – A strong Atlantic high pressure and a trough located over Scandinavia are bringing unseasonal cold air from the Arctic, bringing much colder than normal conditions over most of the continent. During the weekend an Atlantic front affecting the West (UK, Spain, France, Alps, Benelux, Germany) will bring unsettled conditions but a sharp […]