Prices for EUROPE GAS remain stable despite the latest Sudzha gas stations attack
The Dutch and British wholesale prices of gas were mostly unchanged on Friday, as the recent attacks on a Russian supply point were offset by an improved outlook for supply-demand as winter comes to an end. LSEG data shows that the Dutch front-month contract rose 0.17 euro to 41.17 euros per Megawatt Hour (MWh), which is $12.99/mmBtu by 1104 GMT. The Dutch day-ahead contracts was down by 0.10 euros at 40.90 Euro/MWh. The British day-ahead contracts rose 0.52 pence, to 98.50 pence/therm. Meanwhile, the weekend contract increased 0.65 pence and now stands at 97.45 pence/therm.
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. The Dutch day-ahead contracts was down 0.50 euros at 40.50 Euro/MWh. The British day-ahead contracts rose by 0.02 pence, to 98.00 p/therm. Meanwhile, the weekend contract increased 0.45 pence and now stands at 97.25.
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that a peace agreement is reached between Russia and Ukraine, the potential for a relaxation of U.S. sanctions and EU sanctions has led to the question of what will happen to the disputed assets which were affected by international sanctions. This includes both Russian assets located in Europe as well as assets owned by foreign companies in Russia. The main source of revenue for Moscow is oil and gas exports.
The price of gas in Europe is falling amid mild temperatures and ceasefire talks with Ukraine
Dutch and British wholesale prices of gas fell on Monday morning, as temperatures remained mild. Meanwhile, U.S. officials and Russian officials were in Saudi Arabia for talks to discuss possible ceasefires in Ukraine. LSEG data shows that the Dutch front-month contract fell by 1.13 euros to 41.47 Euro per Megawatt Hour (MWh) or $13.22/mmBtu by 0907 GMT. The Dutch May contract is down by 0.85 euros at 41.60 Euro/MWh. The British front-month contracts was down 1,65 pence to 101.65p/therm. The weekend saw no significant geopolitical events. Geopolitically, the focus is on Russia-U.S. negotiations starting in Saudi Arabia," LSEG's Ulrich Weber wrote in a research note.
Prices rise following reports of a strike at Sudzha Gas Metering Station
The Dutch and British wholesale prices for gas rose on Friday after reports of a striking at the Sudzha gas station, which was the point where Russian gas used to enter Europe via Ukraine. LSEG data revealed that the Dutch contract for Winter 2025 was up 1,93 euros at 43.35 Euros/MWh at 0830 GMT. The Dutch contract for front-month was also 1.70 euros higher at 44.55 Euros/MWh. The April contract in Britain rose by 3.97 pounds, to 108.32 cents per therm. Ukraine's army, citing media, reported an early Friday strike on the Sudzha Gas Pumping and Measuring Station in western Russia's Kursk Region.
Sources: Turkey and Slovakia receive US waiver extensions for gas payments to Russia
Sources told reporters on Thursday that the United States has extended waivers to Turkey and Slovakia for gas payments made to Russia. The extensions will be valid until the end of May. Washington imposed sanctions on Russia's Gazprombank in November over the Ukraine conflict. Gazprombank is one of Russia's largest banks and receives payments from Gazprom customers in Europe for natural gas. The United States granted a waiver to Turkey, Hungary, and Slovakia in December. This removed a major obstacle for them to pay for the Russian gas they receive via the TurkStream pipeline. The energy ministry of Turkey declined to comment.
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. LSEG data shows that the demand for heating in northwest Europe will fall by 604 gigawatt-hours per day (GWh/d), to 2535 GWh, on the day ahead. The supply of LNG and natural gas from Norway remains robust.
Prices of gas in Europe rise following agreement on energy ceasefire
Dutch and British wholesale prices of gas rose on Wednesday, bouncing back from the previous day, after Russian President Vladimir Putin agreed to temporarily halt attacks on energy infrastructure but did not agree to a complete ceasefire. According to LSEG, the Dutch front-month contract had risen by 1.41 euros at 42.13 Euros per Megawatt Hour (MWh) as of 0922 GMT. The May contract also rose by 2.08 Euros to 42.60 Euros/MWh. The day-ahead contract in Britain was 3.25 pence more expensive at 103.25 cents per therm. Yesterday, the market was awaiting the outcome of the phone call between U.S. president Donald Trump and Russian President Vladimir Putin.
Prices of gas in Europe drop ahead of Trump-Putin call
Dutch and British wholesale prices for gas eased Tuesday morning, as the market awaited news of a possible peace agreement between Russia and Ukraine. However, low storage levels are still a concern while weather forecasts remain mixed. LSEG data shows that the Dutch front-month contract has dropped by 0.55 euros to 40.65 Euro per megawatt hour at 0917 GMT. The Dutch May contract fell by 0.68 euros to 40.57 euros/MWh while the day-ahead contracts eased 0.20 euros to 40.80 euro/MWh. The day-ahead contract in Britain was down by 1.01 pence, at 101.75 cents per therm. Analysts at Energi Danmark say that all eyes will be focused on the outcome the phone call between U.S.
Prices of EUROPE GAS are rising amid higher demand and lower Norway exports.
Dutch and British wholesale prices of gas rose on Tuesday morning due to lower Norwegian exports into Europe and increased demand. The benchmark front-month contracts at the Dutch TTF Hub were up 0.64 euros at 41.68 Euro per Megawatt Hour (MWh) at 0932 GMT, LSEG Data showed. The contract for the month of May increased by 1,15 euros to 41,66 euros/MWh. The British front-month contracts was 1.27 pence more expensive at 102.07 cents per therm. The maintenance work on the Asgard field, which is expected to finish tomorrow, has caused a drop of 5 million cubic meters (mcm), or 321 mcm/day.
Prices of gas in Europe rise due to forecasted lower temperatures
Dutch and British wholesale prices of gas rose on Monday, recovering from the lows reached late last week. This was due to forecasts for lower temperatures, and Russian forces intensifying their attacks against Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub rose by 1.81 euro to 40.6 euros per Megawatt Hour (MWh), which is $12.87/mmBtu by 0916 GMT. It traded at 36.45 Euros/MWh on Friday, its lowest price since September 27, 2024. The British day-ahead contract increased by 5.00 pence to 100.50 p/therm. Saku Jussila, LSEG analyst, says that the latest forecasts for temperatures show a decrease in temperatures between March 12-18.
The price of gas in Europe has recovered from a new 5-month low
The European wholesale gas price at the TTF hub has rebounded after dropping to its lowest level in 5 months early in trade, amid protests against gas infrastructure in Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub rose to 39.94 Euros per megawatt hour or MWh, or $12.71/mmBtu at 09:39 GMT. It traded at 36.45 Euros/MWh earlier on Friday. This was its lowest price since September 27, 2024. The British front-month contracts also hit a low of five months and traded at 91 pence a therm, 3.04 pence less. The British day-ahead contracts was up 1.75 cents at 95 p/therm.
Prices for gas in Europe fall as storage targets are extended and temperatures rise
The Dutch wholesale gas price fell on Wednesday afternnon amid warmer temperatures. In addition, the European Commission announced a two-year extension to winter storage targets. However, it signaled flexibility regarding interim targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 2,15 euros at 41.15 Euros per megawatt hour at 1648 GMT. The Dutch May contract dropped by 0.90 euros to 41.86 Euro/MWh. The European Commission on Wednesday proposed that the EU's requirements for gas storage and its targets be retained for another two years.
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. The Dutch May contract increased by 0.54 euros to 43.30 Euro/MWh. The average temperature in North-West Europe is expected to increase until the end the week. This will reduce demand. However, temperatures below normal are expected to return to the region early next week.
Irish Government approves floating LNG emergency facility
On Tuesday, the Irish government announced that it had approved the development of an emergency temporary facility for importing liquefied gas (LNG) and storing it. Ireland is one out of five EU members without domestic storage. The government says this is a problem in the event that one or both subsea interconnectors are damaged. The emergency reserve is a floating storage unit and regassification (FSRU) with a capacity of 170,000 cubic meters of LNG. It will be able supply 200,000 domestic gas customers on average for six months. Gas Networks Ireland will own it on behalf of Ireland.
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. The Dutch May contract is down 1,61 euros, at 43.85 Euros/MWh. The day-ahead contract in the British market was down 4.10 pennies at 104.80 pence/therm. LSEG data indicated that temperatures are expected to increase by 4 degrees Celsius over seasonal norms until the weekend before dropping below normal.
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. The day-ahead contract in the British market was up 3.80 pennies at 111.30 pence per therm. After a clash between U.S. president Donald Trump and Ukrainian president Volodymyr Zelenskiy during discussions at the White House last week, uncertainty about a Ukraine deal was looming over the market.
Lightsource bp has secured 10 power purchases totaling 1.3 GW in the last 12 months
The firm reported on Wednesday that Lightsource bp - a renewable energy developer and a subsidiary of British oil giant BP - secured 10 power purchase agreement (PPA) in the last year, totaling 1.3 gigawatts of renewable energy capacity worldwide. Lightsource bp stated that the PPAs have been contracted in Europe, Americas and Asia Pacific for solar power. Microsoft, Google and LyondellBasell, a chemicals company, are among the customers of Lightsource bp. The average contract lasts 12 years. The firm stated that some of the 10 transactions were made public last year, but not all. The firm did not disclose the value of these deals.
Gas prices continue to drop in Europe amid healthy supplies
The wholesale gas prices in the Netherlands and Britain continued to drop on Wednesday morning, amid a comfortable supply situation and the prospect that European storage targets will be relaxed. The benchmark contract for the Dutch TTF hub at the front-month was 0.94 euros lower, at 43.05 Euros per Megawatt Hour (MWh), and the contract for April was 0.83 euros lower, at 43.31 Euros/MWh. The day-ahead contract in Britain was lower by 1.10 pence, at 104.60 cents per therm. The prices fell to their lowest level since December on Tuesday afternoon, amid a widespread sell-off by financial participants.
EUROPE GAS prices extend gains amid LNG worries and colder weather
The European and British wholesale prices of gas extended their gains from the day before, due to colder weather forecasts. They also increased in order to maintain competitive pricing for LNG deliveries with Asia. LSEG data show that the March contract for the Dutch TTF hub rose 0.80 euros, or $13.94/mmBtu to 45.73 Euros per Megawatt Hour (MWh) at 0920 GMT. It had traded as high as 46.45 Euros/MWh on Friday. The TTF contract for April was up 0.35 euros at 45.85 Euros/MWh, and the contract for the day ahead gained 1.25 Euros to 46.55 Euros/MWh. The British April contract rose by 2.40 pence to 109.55 pence/therm. The day-ahead contract also increased by 0.75 pence to 110 p/therm.
