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.
EU natural gas storage benchmark Denmark is confident for winter season as storage is already 75 percent full
Denmark has become a benchmark nation for measuring pipeline natural gas and power needs in the European Union as a bridge supplier of gas to Poland on the Baltic Pipe and being outside the LNG supply loop unlike Germany.
European LNG prices remain stronger than Asia’s even as EU gas storage is high and the weather mild
European Union liquefied natural gas prices were still solid this week and stronger than those for Asia even as the weather turned mild and Germany’s gas storage was over 64 percent filled despite only very small volumes of LNG reaching the German floating import facilities as they continued commissioning and set-up activities.
