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.

Asian liquefied natural gas prices and European cargo values increased for a second week from previous three-year lows as cooler weather and energy policy uncertainties offset high storage as the Northern Hemisphere winter gas season winds down after some of the warmest months on record hit demand.

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.

European and Asian liquefied natural gas prices fell over the past week with the Dutch Title Transfer Facility benchmark declining by over 7 percent as European Union storage levels hit 100 percent and energy security concerns waned with cargo deliveries gathering pace and seasonal temperatures prevailed.

Asian liquefied natural gas prices increased as cargo deliveries to China, Japan and South Korea neared 60 shipments per week while European Union wholesale gas prices stalled as storage levels reached more than 80 percent in nations like Germany, Italy and Spain.

Cargo liftings at global liquefaction plants stayed over the 100 level as North Asia spot prices increased along with US Gulf Coast futures, while pipeline and LNG supplies to the UK natural gas market jumped and available wind power plummeted.