LNG

European spot natural gas prices followed futures prices lower to marks last seen in June 2021 just before energy security concerns entered the market and at least seven liquefied natural gas cargoes were heading for the UK even as the differentials widened in favour of Asian spot cargo values.

Intercontinental Exchange, the leading global provider of market platforms for energy futures and options and other assets, intends to implement the European Union’s Market Correction Mechanism Regulation (MCM Regulation) and related price cap on Dutch Title Transfer Facility (TTF) natural gas derivatives, in time for entry into force of the regulation, though it is also planning a London-based TTF trading alternative.

GRTgaz, the French natural gas network operator and owner of LNG import terminals, said there had been a “massive” return of the fuel to Europe and France in the past year as it revealed plans to move LNG by rail to increase availability in Eastern France.

European natural gas trading in the day-ahead and month-ahead over-the-counter markets in London soared almost 27 percent in June but at much lower prices compared with the same month in 2018.