LNG

European natural gas and North Asian spot cargo prices declined again towards levels last seen three years ago as supplies and storage levels were ample despite colder weather with high flows of LNG cargoes towards Europe along with steady flows of winter pipeline gas from Norway.

European and Asian natural gas market prices declined again with the Dutch Title Transfer Facility (TTF) benchmark falling by over 7 percent on the week to about $14.5 per million British thermal units as more LNG cargoes were pointed at Europe, though the current price was well down on the $53.8 per MMBtu that prevailed exactly a year ago after the Russian invasion of Ukraine caused chaos in already tight global gas markets.