European LNG prices drop again on milder weather and gas storage levels grow on much lower demand
European Union liquefied natural gas prices dropped again as EU storage builds hit their highest level of the season so far as milder weather swept across the continent and gas demand declined along with pipeline gas flows from Norway, while LNG cargo deliveries toNorth Asia were steady.
Germany now has sufficient gas in storage to see it through the winter while regular LNG cargoes awaited
Germany’s energy regulator, the Bundesnetzagentur, said there was sufficient natural gas in storage to see the nation through the winter gas season to the end of March and concentration was now fixed on the 2023-2024 gas season even as regular LNG have not yet started beyond commissioning activities at the ports of Wilhelmshaven and Lubmin.
European natural gas prices crash as North Asia LNG values briefly regain the limelight at least for February
The Japan-Korea Marker price for spot LNG cargoes for Japan, China and South Korea moved back to the trading limelight for the February 2023 trading window as the European Union benchmark gas price crashed from record highs amid less severe Continental weather, though withdrawals from EU gas storage increased.
