Gas giants claim that Australia's opposition plan to reserve supplies may worsen the shortage
Gas giants around the world said that a proposal made by Australia's coalition of opposition to force producers to divert more gas from exports into the domestic market in an attempt to win votes would discourage investment and not solve the looming gas shortages. The conservative Liberal-National Coalition has pledged to lower power bills by implementing a gas reservations scheme.
India increases gas prices starting April
India's government website revealed on Monday that the price for its locally produced oil field gas has increased by almost 4%, to $6.75/million metric British Thermal Units (mmBtu), compared to $6.50/mmBtu the previous month. This is the first price revision for gas produced in old fields in two years. India set a price cap of $6.50 for two years in 2023. The third year will see a 25-cent increase per annum.
EUROPE GAS - Prices stable but weather and low storage could support.
The Dutch and British wholesale prices of gas were mostly stable on Friday morning, despite the mild weather. However, a forecast for a cooler climate next week as well as the need to replenish storages in the coming months will continue to support the price. LSEG data shows that the Dutch front-month contract rose 0.10 euros to 41.10 Euro per megawatt hour or 12.98/mmBtu at 0914GMT.
EUROPE GAS - Prices fall on mild temperatures and energy attack pause
The Dutch and British gas price fell on Wednesday morning, as the mild temperatures reduced gas demand. Meanwhile, the U.S. made deals with Russia and Ukraine to stop attacks against energy targets and at sea. LSEG data shows that the Dutch front-month contract fell by 0.15 euros to 40.97 euros per Megawatt Hour (MWh), or $12.96/mmBtu at 0917 GMT. The Dutch May contract is down 0.75 euros at 40.95 Euro/MWh.
LSEG data indicates that Freeport LNG will resume service in Texas after a lightning strike.
Data from the financial firm LSEG revealed that natural gas flows at Freeport LNG's Texas export plant were expected to increase on Tuesday, after a lighting strike on a pipe caused it to close on Monday. Freeport is one the most closely monitored LNG export plants around the world, as the start and end of its operations can cause large price swings on global gas markets. Gas prices in the U.S.
German contracts for the front year are affected by lower gas prices
German power contracts for the year ahead fell on Monday as gas contracts and carbon permit prices dropped. By 0957 GMT, the German baseload power for the year ahead fell by 1.1% to $85.24 per megawatt-per-hour (MWh), while its French counterpart rose 0.2% to $63.85/MWh. Dutch and British wholesale prices of gas fell on Monday morning, despite mild weather conditions and the beginning of talks between U.S.
Baker Hughes reports that US oil and gas rigs have risen for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by one in the week ending March 21. Baker Hughes reported that despite this week's increase in rigs the total count is still 31 rigs or 5% lower than this time last year.
German energy transition could cost 300 billion euros less with greater efficiency, according to a study
According to a report released by the Boston Consulting Group on Thursday, Germany could save over 300 billion euros (326.49 billion dollars) by 2035 if it implements the energy transition in a more efficient manner. Germany will spend hundreds of millions of euros in the next few years to transition towards cleaner energy sources, with a goal of being carbon neutral by 2045.
Prices of EUROPE Gas are down due to milder weather.
The wholesale gas prices in the Netherlands and Britain were lower on Thursday morning. This was after a recovery in the previous session. According to LSEG, the Dutch front-month contract fell by 0.53 euros at 43.19 Euros per Megawatt Hour (MWh) as of 0947 GMT. The May contract also dropped by 0.49 Euros to 43.18 Euros/MWh. The day-ahead contract in Britain was 2.50 pence more expensive at 104.00 cents per therm.
Document reveals EU countries' draft plan to relax gas storage targets
A document seen by revealed that European Union nations are considering making the bloc’s binding gas storage targets more flexible. They do this because they fear the rules could lead to an increase in gas prices. Germany, France, and the Netherlands warned that the EU's deadlines for filling gas storage were pushing prices up. By indicating…
Ukraine invests in US LNG to meet its rising gas import requirements
The state gas company of Ukraine said that it may import large quantities of U.S. natural gas via terminals located in Germany, Greece and Poland this year, as Kyiv continues to struggle with the effects of Russian attacks against its infrastructure. The White House is leading the talks to end more than three long years of war following Russia's invasion in Ukraine.
BP CEO: It's time to increase U.S. production of gas
HOUSTON, 11 March - BP will increase U.S. Natural Gas production in its onshore shale operation following the recent rise of domestic gas prices. CEO Murray Auchincloss announced this on Tuesday. Auchincloss said at the CERAWeek Conference in Houston that "with rising gas prices, it is time for the Haynesville basin" in eastern Texas. As new LNG export terminals on the Gulf Coast ramped-up, the benchmark U.S.
Russell: China's commodity imports will continue to decline until 2025 due to economic and trade concerns
China's imports have been weak in 2025. This is in line with the recent trend of a softer economy. According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. The January-February period saw a rise in coal imports compared with the same period of 2024.
US drillers reduce oil and gas rigs in the US for the first time in six-weeks - Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of oil rigs for the first six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by one in the week ending March 7 to 592. Baker Hughes reported that the total number of rigs is 30 or 5% lower than it was at this time last week.
German contracts untraded
French spot power fell on Thursday as the weather warmed up and demand decreased. German spot power, however, was traded at a premium to France due to lower green energy production. LSEG analyst RiccardoParviero stated that the expected losses in German Wind Power Generation remained a positive factor for the area, even though usage is also declining and thermal availability has strengthened.
EUROPE GAS-Dutch prices rangebound amid gas storage target extension
The Dutch wholesale gas price ranged on Wednesday morning, as warmer temperatures were expected to continue through this week before turning colder the following week. In addition, the European Commission had proposed an extension of two years for gas storage targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub dropped by 0.04 euros to 43.26 Euro per megawatt hour at 1012 GMT.
German wind power supply increases, lowering spot prices
The European spot electricity prices for Wednesday dropped on Tuesday, as the wind power generation in Germany is expected to increase and demand is expected to fall throughout the region. German power for the day ahead fell by 23.9% at 1001 GMT to 83 Euro per Megawatt Hour. LSEG data shows that the French baseload rate for the day to come was 94 euros/MWh - down 13.8%.
EUROPE GAS-Prices drop on milder temperatures
The Dutch and British wholesale prices of gas fell on Tuesday morning, as the warmer weather forecasts this week reduced heating demand. However, concerns about the Ukraine-Russian conflict still persist. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was lower by 1.19 euros, at 44.12 Euros per megawatt hour, or $13.59/mmBtu at 0925 GMT.
German contracts benefit from rising gas and carbon prices
German power contracts for the year ahead rose Monday in line with higher gas contracts as well as carbon permits. The German power price for the year ahead was up 2.5% to 87 Euros ($90.55). Analysts at Energi Danmark said that the German power market had rebounded sharply after a "massive jump" in gas prices following the Friday meeting between U.S.
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT. The Dutch May contract increased by 2.15 euros to 46.80 Euros/MWh.
