Spot LNG prices strengthened from mid-August to mid-September on the back of ongoing repair work in Australia and after a hurricane swept through the US, halting output from two major LNG plants. The ICIS East Asia Index (EAX) for October-delivered cargoes averaged $4.289/MMBtu, up 53% from the previous month, as the market staged a recovery […]
Energy Connections
Spot LNG weak despite more cuts
Spot LNG prices remain at rock-bottom levels despite major cuts to global production, especially from the US. The ICIS EAX price for spot LNG deliveries to east Asia during August averaged $2.180/MMBtu from mid-June to mid-July, down 53% from the same time last year. The ICIS TTF spot gas benchmark for Europe was even lower, […]
Market volatility is here to stay
Today marks the first day of the second half of 2020, and as I’m sure you will all agree, a lot has changed in six months. If you can all cast your minds back to 1 January 2020, how many thought you would be where we are now? Stories of Coronavirus being detected in China […]
Spot LNG still weak, despite more cuts
Spot LNG prices remained very weak in the period from mid-May to mid-June. Growing numbers of US cargo cancellations being planned across the summer have failed to boost the market more than a couple of percent, as supply continues to overwhelm a demand sector suffering from the impact of recent mild winters and the ongoing […]
LNG spreads tighten, Gulf braces for storm
Spot LNG prices held below $5.00/MMBtu in the four weeks from mid-June to mid-July on the back of continued strong supply in the global market. However, spreads between regions were tightening up in the middle of July as European gas prices strengthened on the back of Norwegian maintenance outages. Meanwhile, the approach of Tropical Storm […]
ICIS View: Turkish lira crisis spells new concerns for energy sector
After losing nearly one fifth of its value within the last week, the Turkish lira recovered some losses, stabilising at TL6.5 to the US dollar in Tuesday’s session. The rebound brought some welcome relief to domestic and international markets, which had been on edge amid fears of national bankruptcies and contagion to the Eurozone and […]
This winter it really is about the weather
The cliche about weather driving energy prices, in particular on European gas and Asian LNG, is just as relevant this year as ever before. A mild weather with no extended periods of freezing cold in Europe could see forward gas prices steadily ease down despite fears over a lack of gas storage in the UK […]
Squaring the circle of Nord Stream 2
The planned Nord Stream extension continues to generate vigorous debate, showing the difficulty of marrying aims of cost-effectiveness, social benefit and political acceptability. A project of Russia’s Gazprom in partnership with a handful of Europe-based energy majors, Nord Stream 2 would double the existing gas supply pipeline’s capacity of 55bcm/year by 2019. It would also […]
LNG in the Med and topsy-turvy price trends
Observers of the French and Spanish gas markets over the last few months cannot have failed to note a mounting challenge to the traditional price structure in the region. LNG – both in terms of quantity and price – has played an important role in the recent shift. While historically Spanish AOC hub prices have […]
Domestic Indian price reforms could boost LNG import demand
From an LNG seller’s perspective, India is one of the few beacons of hope. The vast country, which has a very price sensitive approach to buying liquid gas, is taking more cargoes both on a contract and spot basis. A recent move by the Indian government to change the pricing formula of domestically-produced gas from […]
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