Cuts to Dutch gas production, French nuclear troubles and a court case impacting Russian pipe flows combined to give a sharp upwards boost to spot gas prices in Europe in mid-September. This fed through to spot LNG prices worldwide as Asian buyers raised their bids to ensure they could compete for required winter supplies. As […]
Energy Connections
Freeport LNG set for first cargo, storage talk grows
The 5.0 million tonnes per annum (mtpa) US Freeport LNG train one was getting ready to load its first cargo in August, adding the prospect of further downward pressure on an already soft spot LNG market. Meanwhile, talk about the possibility of storage plays was growing, as traders considered using vessels as floating cargo storage, […]
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 […]
European energy prices looking weak heading into third quarter
This article was written by Harriet Roberts. It discusses the findings of the ICIS European Energy Mid-Year Outlook 2019 European energy prices weak on oversupply, power benchmark front-year has room to fall European wholesale gas and power prices are set for a bearish third quarter, underpinned by strong supply at both a continental and global […]
Spot LNG falls, but tensions in Gulf
Spot LNG prices remained low around the world in mid-June, prompting continued speculation over whether US producers might cut back output later this year to re-balance the market. New projects continue to come into operation, including the loading of the first cargo from Australia’s 3.6 million tonnes per annum (mtpa) Prelude facility and the start-up […]
ICIS Dutch TTF gas benchmark closes above EAX in bear market
The ICIS Dutch TTF gas benchmark closed above the East Asian Index (EAX) spot LNG price on 20 March for the first time in three years, inverting the usual relationship between the two and underlining the bearish mood that has gripped the spot LNG market since September. The contract for May delivery on […]
ICIS View: Groningen residents’ gain is Europe’s loss
As the bill to cut production from the Netherlands’ giant Groningen field makes its way through the Dutch halls of power, the challenges of implementing it are becoming increasingly apparent. Traders want greater clarity on how fast production will fall, particularly in the coming gas year. Big industrial customers forced to convert infrastructure for use with imported […]
2016 – for LNG it was the year that wasn’t
The long-awaited surge of new global LNG production has not led to the widely-expected and sustained oversupply in the market, at least so far in 2016. The expected end of European reloads as a result of more production starting up in both Atlantic and Pacific basins has also not come to pass. ICIS spot prices […]
Ballast bonuses sink shipping activity
The cancellation of two planned LNG vessel charters in Europe this week shows that it’s becoming harder and harder to get hold of an LNG carrier at the right price in the Atlantic Basin. Danish energy company DONG and Swiss trader Glencore were both in discussions with ship owners about chartering vessels for reloads in […]
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 […]
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