Asian LNG prices edge higher as cargoes flow East and European gas values weaken on strong storage builds
The number of liquefied natural gas cargoes pointing at Asian import terminals and being delivered this week increased as prices also edged higher while European natural gas benchmark values declined as storage levels roseacross Europe.
European natural gas prices decline further amid gas glut and margins widen in favour of Asian LNG cargoes
European liquefied natural gas price benchmarks declined by over 13 percent this week as supplies were ample and margins widened to over $4 per million British thermal units between the Pacific and Atlantic basin values .
European natural gas prices drop as storage peaks while Asian LNG prices increase along with cargo liftings
European benchmark natural gas prices dropped on the week as natural gas storage levels almost peaked in the European Union while North Asian front-month LNG spot cargo prices edged higher as more demand was expected in the weeks ahead.
European LNG prices plunge again on high storage and mild weather while more cargoes point at Asia
European Union liquefied natural gas and pipeline gas prices plunged by a double-digit margin again as storage inventories increased and mild weather weakened demand, while more cargoes from a low seasonal level of liftings began to point at Asian markets.
European LNG prices at two-year lows as Asia softens and Italian and German storage over 70 percent filled
European Union liquefied natural gas and pipeline gas prices dropped 14 percent as mild weather and the highest weekly EU storage build of 2023 saw Germany and Italy filled by over 70 percent while Asian spot LNG prices declined as well, though at a slower rate.
European LNG prices hit lowest level since mid-2021 as storage builds and demand is tepid in EU and Asia
European liquefied natural gas and wholesale pipeline gas prices dropped to their lowest level since June 2021 and reached parity with slowly rising North Asian spot cargo prices as the European Union increased storage volumes while demand declined on milder weather.
European and Asian LNG prices decline as EU gas storage builds and more cargoes point at Germany
European and Asian LNG prices declined on the week as European Union gas storage levels increased and more LNG deliveries are being scheduled for Germany’s floating import facilities, while more momentum was still awaited from spot cargo buyers in the Pacific Basin.
Australian LNG stakeholder Origin Energy reports strong revenues but makes no mention of Brookfield bid
Origin Energy, the Australian upstream supplier to the Australia-Pacific LNG export plant in Queensland, said the project provided a 40 percent increase in revenues with Origin’s share amounting to A$876 million (US$620M) during the last quarter.
European natural gas glut hits mid-winter prices as mild weather prevails and LNG cargoes are pointed at Asia
Europe has now entered an unusual period of having a temporary natural gas glut in the mid-winter season as several European Union nations this week built gas storage levels amid very mild weather and the Germans preferred coal and oil to gas for electricity generation, while the LNG arbitrage window opened to over $2 for the Japan-Korea Marker price for spot cargo deliveries to Japan, China and South Korea.
IEA forecasts low natural gas demand growth for China and sees Russia losing $50Bln a year in gas sales
Natural gas demand growth in China, including LNG deliveries, is forecast to slow considerably, falling to 2 percent per annum between 2021 and 2030 compared with an average growth rate of 12 percent per annum between 2010 and 2021.
