VIDEO: European Gas Outlook: Week 30
Jake Stones
20-Jul-2020
LONDON (ICIS)–Market reporter Jake Stones provides an overview of the key price drivers for European gas markets over the next seven days:
- LNG cancellations for September will be announced on the 20 July , with around 10-15 cargo cancellations expected. Down from the 45-50 cancellations for August
- Little support on the TTF prompt and curve as LNG supply meets low demand profiles, while the NCG and Gaspool will see support from the continued Nord Stream outage
- The NBP prompt could see support from lower wind-farm generation. Wind output is expected to average 3.1GW across the week. LNG arrivals may cause higher sendout to meet the rise in demand though.
- Carbon volatility could also be a factor for front-month contracts following high volatility in week 29, where the carbon benchmark went above €30/tCO2e before dropping substantially at the end of the week
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