LNG

European liquefied natural gas and wholesale pipeline gas prices soared by over 16 percent on the week while stronger Asian spot cargo values and higher global gas futures prices signalled a return of volatility to a market harbouring doubts about the stability of supplies.

European and Asian liquefied natural gas prices rebounded from near three-year lows as European storage levels began to fall for key nations and liftings of LNG cargoes hit a winter season low amid renewed concern about adverse government interference in energy markets.

Liquefied natural gas and wholesale pipeline gas prices and futures eased this week to be just above recent seasonal levels pre-2022 for the North Asian spot cargo market and European gas benchmarks as shipping spot charter rates surged and European Union gas storage levels continued their record build.

European natural gas prices and LNG values of the Dutch Title Transfer Facility (TTF) fell by more than 5 percent on the week while the Japan-Korea Marker for spot cargoes remained solid as other energy markets including crude oil dropped towards mid-2021 levels amid mixed economic and demand signals.

July 19 (LNGJ) - EDF Trading, a wholly-owned subsidiary of French utility and energy company EDF S.A., has named Alex Watson as its new Head of Gas Trading. Watson took up the role on July 19 and reports to Marcello Romano, Head of Trading. “I’m delighted to welcome Alex to EDF Trading,” said Marcello Romano.

   “He has extensive knowledge of the natural gas and LNG markets and will help us to expand our global gas footprint and the services we provide to the EDF Group and our third party customers,” added Romano. Watson joined EDF Trading from Freepoint Commodities where he was a Cross Commodity Trader. Prior to that, he was a European Natural Gas Trader at Citigroup.