LNG

European gas prices continued to soften in November, with TTF month-ahead prices down by 25% year-on-year to $10.5 per MMBtu as a 15% yoy surge in global LNG supply outstrips demand.

Spot gas prices at Canada’s AECO hub in Alberta have plunged recently turned negative as production overruns collide with technical issues at the country’s first LNG export facility. Train 1 at LNG Canada struggles to scale up operation, creating a gas supply overhang in British Columbia.