LNG

The UK is the focus of Europe’s main LNG deliveries with 10 cargoes this week alone as prices increase in natural gas markets amid future supply and economic concerns and with the various assessments competing for price discovery, including the European Union’s one spot cargo price now issued daily.

The European Union benchmark Dutch Title Transfer Facility (TTF) wholesale natural gas price and LNG indicator rebounded this week while North Asian spot cargo prices declined and the EU’s own LNG cargo price assessment was more than $3 lower than the Dutch TTF equivalent.

QatarEnergy Chief Executive Saad Sherida Al-Kaabi said the soaring cost of energy was “weighing painfully” on the world economy and eroding support among the general public for the transition to “green energy” while boosting coal-burning in the world’s leading economies.

TotalEnergies has approved the final investment decision for the Fénix gas development offshore LNG importer Argentina in partnership with Germany’s main oil and gas company Wintershall Dea.

Leading oil and gas and LNG executives as well as heads of European Union utilities had interesting observations to make on the first day of the four-day Gastech Conference and Exhibition held in the northern Italian city of Milan.