LNG prices ease in Europe and Asia as spot shipping charter rates jump while EU storage hits records
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.
Pakistan seeks more LNG as Russian crude oil deal starts and Turkmenistan natural gas pipeline project revived
Pakistan has formally moved out of the economic vulnerability phase and will start making payments to multilateral lenders on time while seeking bilateral debt restructuring that will help improve the timing of liquefied natural gas deliveries while the Asian nation has also just started importing cut-price Russian oil.
Intercontinental Exchange reports surge in natural gas derivatives volumes linked to LNG demand
Intercontinental Exchange, the leading global provider of energy trading platforms for futures and options, has issued natural gas and oil trading volumes and related statistics for December contracts and those for other periods of 2022 when there was a jump in derivatives for gas and interest rates in the fourth quarter and the full year.
Asian LNG prices fall as market enters late November delivery phase and UK gas drops to nearer year-ago levels
North Asian LNG prices declined for a fourth week as cargoes were on the water through to the end of November and European LNG cargo values dropped while UK gas prices were just $7.70 per million British thermal units higher than a year ago.
India’s LNG imports drop 2.7 percent as rising cargo costs curb spot market participation by Asian nations
Indian imports of liquefied natural gas dropped by 2.7 percent in July, the 11th straight monthly decline, as LNG prices have increased in the spot market and continue to curb purchases in Asia.
European LNG cargo prices still near highs after record surge this week as Russian gas supply crisis escalated
European Union natural gas prices and LNG values hit record levels this week and the benchmark Dutch Title Transfer facility price was still just below $60 per million British thermal units after the Russian gas dispute escalated while Asian LNG spot cargo prices also gained ground on the week, though at a slower pace than the EU market.
European LNG benchmark Dutch TTF soars to 2022 record high while North Asian LNG spot cargo prices lag
The Dutch Title Transfer Facility price, the European Union benchmark for LNG and natural gas markets, hit a 2022 record while North Asia spot cargo prices lagged in comparison by over $15 per million British thermal units with shipments pointing at the EU valued at over $200 million each.
GAIL India reports record profits as Gazprom LNG imports continue amid global search for new deals
Gas Authority of India (GAIL), the nation’s main natural gas pipeline operator and a leading LNG importer with US volumes from Cove Point in Maryland and also contracted from Russia’s Gazprom, reported record results and aimed to tie-up more gas supplies under contract to cover growing demand.
Indian LNG deliveries drop again amid high costs while domestic gas output rises and Punjab pipeline opens
Shipments of LNG to India dropped for an eighth straight month during April, falling by over 13 percent as costs jumped and rising domestic natural gas production prevented gas shortages while GAIL India also increased pipeline network connections in Punjab.
Asian spot LNG prices regain initiative as European needs less urgent as Spring’s arrival offsets Ukraine gloom
Asian liquefied natural gas spot prices regained the initiative from European values with May gaining more than 16 percent as the Dutch Title Transfer Facility wholesale futures price dropped by the same amount with supply concerns helped by the arrival of Northern Hemisphere Spring weather.
