RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2023-01-20 11:40:00

EUROPEAN GAS PRICES DECLINE

EUROPEAN GAS PRICES DECLINE

BLOOMBERG - Jan 20, 2023 - European natural gas is set for its longest run of weekly losses in almost three years, with mild weather forecast to return later this month, offsetting supply concerns.

Benchmark futures fluctuated between small gains and losses early Friday. For the week, they were poised for a sixth consecutive decline, the longest since February 2020.

A cold front, moving through the British Isles and parts of continental Europe, is expected to ease by the end of the month with temperatures in the northwest rising back above normal, forecaster Maxar Technologies Inc. said in a report.

That’s keeping prices in check even as supplies from Norway remain capped amid outages. Exports from Russia sent via Ukraine have also dropped from earlier this week, and are expected to inch even lower on Friday. Some analysts suggest that might be due to curbed buying.

Gas prices have dropped significantly over the past month due to the mild winter, easing a historic energy crisis that has fueled inflation. Storage levels remain well above seasonal norms — even after recent withdrawals amid the cold snap — and the region continues to pull in imports of liquefied natural gas. 

Even so, traders are still closely watching supply and competition with Asia for LNG. The maintenance-related drop from Norway — the region’s top supplier — and outages at LNG terminals elsewhere highlight the market’s tightness.

Dutch front-month futures, Europe’s gas benchmark, were 2.8% lower at €59 a megawatt-hour by 8:29 a.m. in Amsterdam.

-----


Earlier:

EUROPEAN GAS PRICES DECLINE
2023, January, 18, 12:15:00
EUROPEAN GAS PRICES REDUCTION
The region’s storage sites are around 81% full, some 20 percentage points above the five-year average. That’s providing confidence that Europe will end the winter with inventories over 50% and “more than enough gas to completely replenish its storage by the start of next winter,”
EUROPEAN GAS PRICES DECLINE
2023, January, 16, 12:35:00
EUROPE NEED U.S. LNG
According to the EU-US announcement, EU commission aims to increase annual demand for American LNG by 50BCM by the end of 2030 and procure 15BCM more in 2022,
EUROPEAN GAS PRICES DECLINE
2023, January, 11, 11:35:00
EUROPEAN LNG WINNING
LNG deliveries to Europe have helped ease an energy crisis this winter after Russian piped supply slumped.
EUROPEAN GAS PRICES DECLINE
2023, January, 5, 16:25:00
EUROPEAN GAS PRICES UPDOWN YET
Dutch front-month futures, the European gas benchmark traded 2% higher at to €66.30 per megawatt-hour by 12 p.m. in Amsterdam. The UK equivalent contract also rose. German power for next month increased 2.3% to €166 per megawatt-hour.
EUROPEAN GAS PRICES DECLINE
2022, December, 21, 12:20:00
EUROPEAN GAS PRICE CAP
"The TTF month-ahead settlement price for derivatives is by far the most widely used benchmark in gas supply contracts across the EU, followed by maturities of two-month ahead and year ahead," it states.
EUROPEAN GAS PRICES DECLINE
2022, December, 19, 12:05:00
EUROPEAN GAS PRICES UPDOWN YET
Dutch front-month futures, Europe’s gas benchmark were down 1.3% at €114 a megawatt-hour at 8:51 a.m. in Amsterdam.
EUROPEAN GAS PRICES DECLINE
2022, December, 19, 11:55:00
EUROPEAN GAS MARKET: DISTORTED
Russia's war against Ukraine that started in February has exacerbated gas prices. But the excesses of the TTF had already been detected before, with rises of more than 700% in 2021.
All Publications »
Tags: EUROPE, GAS, PRICE, RUSSIA