Home Author: Alex Froley

Energy Connections

Global gas hits record highs

Global spot gas prices are entering record-high territory as demand rebounds after last year’s lockdowns and after a cold winter left storage levels severely depleted. As of mid-August the ICIS TTF gas price for Continental Europe, the UK NBP and the East Asia Index were all soaring higher. The TTF and NBP front-month were around […]

Spot LNG stuck in bullish mood

Spot LNG prices remain firmly in bullish mood, with little prospect of an immediate easing of tight market conditions. Low storage levels in Europe, growing demand from China and Brazil and maintenance in Australia are all supporting the market. Threats to the upside include any heatwaves that occur over summer in east Asia prompting increased […]

Spot LNG strong as China equals Japan

Spot LNG strong as China equals Japan Spot LNG prices remain bullish as China’s demand growth continues and Australia enters a period of heavy maintenance, which allowed the US to overtake Australia’s monthly exports for the first time ever. Meanwhile, Europe’s onshore gas storage facilities remain much emptier than at the same time in the […]

Spot LNG bullish on storage, summer peak

Spot LNG bullish on storage, summer peak Spot LNG prices have broken back into double figures, over $10/MMBtu, as Europe continues to pull in gas to refill its giant storage sites after a cold winter, while east Asia faces possible power demand spikes for summer air-cooling in the months ahead. The competition between Europe and […]

Asia, Europe LNG converges as US turns cold

Spot gas markets in Europe and Asia have re-aligned after splitting apart during last month’s cold weather and price spikes in east Asia. But it may be a little too early to call winter over, as recent developments in the US prove. Meanwhile, summer could see some extra support from storage re-injections, while there is […]

Spot LNG spikes on limited flex

Spot LNG prices in east Asia have rocketed higher during January, with trades seen over $30/MMBtu. That compares with levels around $11/MMBtu in late December, and as low as $2/MMBtu during the oversupply of summer 2020. What does this mean, and how long are such high prices likely to continue? The high prices came in […]

LNG spot prices surge on outages, shipping congestion

LNG traders are questioning how long a surge in Asian spot prices can last, after dramatic price increases caused by unexpected outages, strengthened by a lack of shipping availability to close the widening price differential between Europe and Asia. Although outages remain, US production is reaching record levels, and Europe is breaking its link to […]

Spot LNG softens in H1 November

Spot LNG Prices strengthened in the second half of October on ongoing outages, before softening in the first half of November on increased production. The ICIS East Asia Index rose from $6.25/MMBtu on 16 October to a high of $7.20/MMBtu, before falling back to $6.40/MMBtu on 13 November. The front-month price, for cargoes delivered in […]

Spot LNG remains in bullish mood

Spot LNG prices continued to strengthen from mid-September to mid-October as the market takes an increasingly bullish turn on the back of unexpected production problems in the run-up to winter. The ICIS East Asia Index (EAX) for November-delivered cargoes averaged $5.207/MMBtu, up 21% from the previous month, though still some 10% below the same period […]

Spot LNG gains on Australia, US problems

Spot LNG prices strengthened from mid-August to mid-September on the back of ongoing repair work in Australia and after a hurricane swept through the US, halting output from two major LNG plants. The ICIS East Asia Index (EAX) for October-delivered cargoes averaged $4.289/MMBtu, up 53% from the previous month, as the market staged a recovery […]

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