Global LNG Prices Could Spike This Winter on Low European Gas Stocks
European Union gas stocks are 67% full, far below the 80% target, as a closed Strait of Hormuz tightens global supply.
8 Articles
8 Articles
CHRONIC. European gas reserves have dangerously low filling rates in early autumn; what if winter is very cold, asks Columbia University energy specialist Anne-Sophie CorbeauThe underground European gas stocks have reached exceptionally low levels for this period of the year, 65% at the end of August instead of 80%. This result is not surprising, and is the result of two years of psychodrama.Act 1. Winter 2024-2025, when traders wage on energy s…
European natural gas inventories have fallen to record lows for this time of year, and LNG transport across the Hormuz Strait continues to be disrupted. Industry insiders warn that if both Europe and Asia experience a severe winter, LNG prices could rise to $40 per million British thermal units (MMBtu).
During their participation in the Thai capital's Jazzik conference, energy sector executives warned that the prices of liquefied natural gas could rise globally in record proportions over the coming winter, with Europe's stockpiles falling to their lowest levels in years and increased competition with buyers in North-East Asia. At the same time, the US war on Iran has prevented shipping [...] forecasts of a worldwide price surge in liquefied gas…
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