Prices of gas in Europe are rising as Norwegian supplies increase.
The Dutch and British gas wholesale prices were trading in a narrow band early on Tuesday, as the higher temperatures in Europe restricted heating use. Meanwhile, the cooling demand and low winds generation mainly affected the power market. LSEG data shows that the benchmark Dutch front-month contract was up 0.37 euros at 33.40 Euro per megawatt-hour or $11.55/mmBtu at 0848 GMT.
Low wind and hot weather will increase spot prices
German and French power contract prices for the next week will rise due to low wind output, which is limiting supply. Hot weather also increases demand. However, more forward-looking contracts were at a lower price on Friday morning in line with gas market. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0926 GMT.
The price of gas in Europe has fallen from its 11-week peak, but Middle East concerns remain dominant
The Dutch and British wholesale prices of gas largely eased Friday morning, after reaching new 11-week-highs on Thursday. However, they remain volatile due to the possibility of an escalation of the Israel-Iran dispute and possible U.S. participation. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.23 euros to 40.05 Euro per megawatt hour by 849 GMT.
Prices of EUROPE GAS firm due to higher demand, French nuclear concerns and hot weather
The Dutch and British wholesale gas price rose on Wednesday morning. This was due to the rising electricity prices in France, increased cooling demand and Europe's need for gas storage sites. LSEG data shows that the benchmark Dutch front-month contract was up 0.72 euros at 35.50 Euro per megawatt hour or $11.90/mmBtu at 0837 GMT. The price of August was 0.75 euros higher, at 35.85 Euro/MWh.
The price of gas in Europe is falling amid strong wind output
The Dutch and British wholesale prices of gas fell on Wednesday after increasing the previous day, as stronger wind production offset lower solar output, and supply was stable. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.20 euros to 35.80 Euro per megawatt hour at 0747 GMT. The British front-month contracts was 0.61 pence less at 83.29 cents per therm.
How can the EU ban Russian Gas?
Next month, the European Commission will propose legal measures that will phase out EU gas imports from Russia by 2027 and prohibit spot contracts with Russia before the end this year. This is how it could work. How will the EU ban Russian gas? Legally, sanctions are the easiest way for the EU's to prohibit Russian gas and liquefied imports. They require the unanimous approval of all 27 EU member states.
Equinor's executive states that Europe needs to compete on prices for gas refilling.
A senior Equinor executive said that Europe might need to continue offering attractive prices in order to secure the additional 30 billion cubic meters (bcm), of liquefied gas (LNG), needed to replenish their storage levels. Equinor estimated that Europe would require around 250-300 additional LNG cargoes in comparison to last year, to fill storage tanks that were left empty by two-thirds after the winter.
Kremlin: Russia and US have begun talks about Russian gas flowing to Europe
A Kremlin official confirmed on Friday that the issue of Russian gas shipments into Europe was being discussed in talks between Russia, and the United States. This confirms an exclusive report from a day before. After the Nord Stream pipes under the Baltic Sea blew up in 2022, Russian gas exports into Europe were slashed. Gas flows…
EUROPE GAS-Prices remain volatile amid tariff, gas storage target uncertainty
The Dutch and British gas price are not clear on Friday, but they remain close to recent multi-month-lows. This is because the market continues grappling with the effects of the U.S. trade war induced by tariffs on the global economic situation and the EU countries meeting to discuss filling gas storage targets. LSEG data shows…
EUROPE GAS-Global trade fears fuel market volatility
Dutch and British gas rates recovered some of their earlier losses, after increasing on Monday. However, they then fell back down again as fears about a global war leading to a weaker demand for energy fuelled volatility. LSEG data shows that the benchmark Dutch front-month contract fell 0.55 euros, or $11.55/mmBtu to 35.90 Euros per megawatt hour.
Gas giants claim that Australia's opposition plan to reserve supplies may worsen the shortage
Gas giants around the world said that a proposal made by Australia's coalition of opposition to force producers to divert more gas from exports into the domestic market in an attempt to win votes would discourage investment and not solve the looming gas shortages. The conservative Liberal-National Coalition has pledged to lower power bills by implementing a gas reservations scheme.
Prices of gas in Europe drop ahead of Trump-Putin call
Dutch and British wholesale prices for gas eased Tuesday morning, as the market awaited news of a possible peace agreement between Russia and Ukraine. However, low storage levels are still a concern while weather forecasts remain mixed. LSEG data shows that the Dutch front-month contract has dropped by 0.55 euros to 40.65 Euro per megawatt hour at 0917 GMT.
German Gas Storage Group urges clarification on summer filling policy
Storage operators' group INES warned on Thursday that if the German government does not decide to fill up gas caverns in time for winter, there may be shortages. The ongoing discussions over the formation a new government and the fact that the summer prices are higher than the winter prices complicate the task. Some market participants bet that Germany will need to subsidise feed-in.
Sources say that most EU countries support softer storage targets for gas
In a meeting held behind closed doors on Wednesday, a majority of European Union member countries supported plans to relax some of the bloc’s binding gas storage targets when they were extended until 2026-2027. EU diplomats confirmed this. Germany, France, and the Netherlands warned that the EU's deadlines for filling gas storage were pushing prices up.
EUROPE GAS-Dutch prices rangebound amid gas storage target extension
The Dutch wholesale gas price ranged on Wednesday morning, as warmer temperatures were expected to continue through this week before turning colder the following week. In addition, the European Commission had proposed an extension of two years for gas storage targets. According to LSEG, the benchmark front-month contract for the…
Expand Energy is on track to increase US natgas production to meet the growing demand
Expand Energy, previously known as Chesapeake Energy, and the largest natural gas producer in America, announced on Thursday that it is on track to increase output by over 5% from the levels expected in 2020, as long as the market conditions allow for such an action. The CEO of Expand, Nick Dell'Osso, told analysts on the company's…
EUROPE GAS - Prices rebound on technical purchases and strong demand
The Dutch and British wholesale gas market rebounded Thursday on technical buying and strong demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up by 2.00 euros, at 43.40 Euros per megawatt hour, or $13.33 / mmBtu at 0909 GMT. The front-month contracts hit a low of 40.85 euro/MWh, a 10 week low on Wednesday.
EUROPE GAS - Prices stable amid ample supply and milder weather
The European and British gas contract prices were mostly unchanged on Friday, despite the milder weather forecast. Supplies from Norway and LNG are also steady. There is still uncertainty about future Russian gas supplies in the event of a peace agreement with Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.09 euros to 47.51 Euro per Megawatt Hour (MWh)…
EU wants more US gas and renewable energy to replace Russian supplies
The EU energy commissioner said that the EU will look to other countries, including the U.S., to supply more gas to replace Russian supplies and to expand renewable energy to reduce its reliance on fuel. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. Despite a decline in Russian pipeline gas supplies…
Australia's Santos posts 16% drop in annual profit on lower prices, slashes dividend
Santos, an Australian oil and natural gas company, reported a lower-than expected annual profit and declared a smaller payout on Wednesday. The lower realized prices and decreasing production were to blame. The oil and gas market remained volatile throughout the year. Supply chain disruptions caused by geopolitical concerns and a slowdown in demand from China…
