After some time, Spain returned to the world top ten in terms of renewable energy capacity. But looking at the numbers in detail, its position in the ranking improves if each particular renewable technology is analysed individually. Renewable energy capacity in Spain The numbers alone are already quite spectacular. According to data from Red Eléctrica […]
Portugal is running out of options to meet the strong demand for natural gas driven by frigid weather during the 2020-2021 winter. Parts of the country are already facing shortages of the fuel, and the situation is set to deteriorate during the rest of the season. Weather is expected to favour gas consumption in Portugal […]
Work hard, play hard: global gas benchmarks started the year with a massive bull ride, amidst cold winter temperatures and a tighter than expected gas supply. In Asia, JKM MA prices jumped by almost threefold YoY, whilst half-month contracts peaked at over $30/mmbtu by mid-January, their highest level on record. This unprecedented price rally has […]
In analysing early-2021’s gas market, one can uncover some notable trends, which have caused Europe to reduce LNG sendout more than twofold YoY. January has likely set a record with the highest number of cancellations of cargoes initially planned for delivery to the European terminals. Dunkirk in France and Krk in Croatia received only one […]
European gas prices fell on Friday amid expectations of ample supply. The front-month Dutch TTF and the month-ahead UK NBP contracts rolled over into the March contract on Friday, with the NBP contract falling 8.8% on the final closing price of the February-dated contract. The March-dated TTF contract fell 5.1% on the closing price of […]
The European electricity markets prices fell in a generalised way in the third week of the year, favoured by the recovery of the temperatures and the increase in wind energy production. However, the electricity futures increased. The gas and CO2 futures fell from their maximum values but they remain high. It is expected that in […]
European gas prices recorded hefty losses on Monday amid warmer weather and an improved supply outlook. The Front-month UK NBP price fell by 6.1% to close at the equivalent of USD 7.73/MMBtu. The Dutch TTF recorded a loss of 6.5% to close at the equivalent of USD 7.17/MMBtu. US natural gas benchmark Henry Hub ended […]
The global gas wheel keeps turning on: despite falling gas demand trading on TTF jumped by 20% in 2020, breaking the 4000 bcm mark for the first time ever. Growth has been almost entirely driven by exchanges, accounting now for 40% of volumes traded on TTF compared to 6% back in 2013 when TTF was […]
It is unlikely that the charts below can surprise anyone familiar with the matter, but they largely explain the current market environment. A combination of powerful factors emerging in Q4 ’20 has resulted in Asia’s complete dominance over alternative directions of LNG spot supply this year. The first half of January witnessed a further widening […]