![]() Montel Group has published on Friday that the front-month price of #LNG, including delivery costs, to northwestern Europe hit a 10-week low due to falling #hubprices and increased #regasification capacity, data from Spark Commodities showed. ![]() ![]() ![]() The start of the year has seen a decline in #gasprices and #LNGprices, putting less stress on gas inventory levels and sending the #benchmark #gasprice at the #Dutch #TTF hub down 14% since the end of 2022. An important factor is China and how the #covid wave there will affect the #economy and the #gasdemand in Europe. #GoldmanSachs expects storage facilities to remain at least 20% full by the end of March 2023, while #energyresearch consultancy Wood Mackenzie said an unusually cold winter in the Northern Hemisphere could reduce #European #gasinventories to 4% of total capacity by March. A number of factors are at play keeping Europe in a better position than they were last year: milder temperatures than usual, reduced #heating demand, a high #storage rate and more #supply available due to a mostly absent #China from the #spot market. The #gasstorage levels in most EU countries are well above their five-year averages, but key questions depend on how European reserves will be refilled after winter, assuming Russian supplies aren't resumed. #Gasprices in #Europe have fallen to pre-Ukraine invasion levels, and it seems we might avoid a full-blown #energycrisis this winter.Below, there is a short review on what happened this week on European gas market (09/01-). ![]()
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