European natural gas prices decline further amid gas glut and margins widen in favour of Asian LNG cargoes
European liquefied natural gas price benchmarks declined by over 13 percent this week as supplies were ample and margins widened to over $4 per million British thermal units between the Pacific and Atlantic basin values .
European LNG prices drop while EU debuts with assessed price lower than gas values for India and Bangladesh
European natural gas and LNG prices dropped by another 9.5 percent on the week as gas storage levels were high in Europe and energy demand in North Asia was seen gaining to underpin the Japan-Korea Marker price for spot cargoes.
European LNG retains substantial premium over North Asian spot prices because of Asia’s power flexibility
European natural gas market prices remained at a substantial premium to North Asia spot LNG values, which were now even lower than the UK National Balancing Point price for November as LNG demand was very high in Europe for early winter, while Asian countries appeared comfortable with their current flows and storage as coal remained an easy option there in colder weather.
European pipeline natural gas and LNG prices soar as German regulator blocks Nord Steam II pipeline
European pipeline natural gas and LNG prices are set to stay high into 2022 and jumped by as much as $4.70 per million British thermal units after Germany’s energy regulator, the Bundesnetzagentur, suspended the procedure to certify the Gazprom-led Nord Stream II natural gas pipeline under the Baltic Sea from Russia to Germany.
