The European benchmark, the Dutch TTF Gas prices, have recently had strong growth, to 39.25 Euros- up 5.89% yesterday, up 15.89% for the week, & 17.41% for the month.
Will these price rises continue? And can LNG prices (% STO SP) expect similar growth?
From Trading Economics 31.7.24European natural gas prices extended their recent rise to above €33.3 per megawatt-hour in late July, its highest in nearly one month, amid persistent risks of lower supply. The rise underscored the sustained reliance that European energy markets have on the ample availability of natural gas from key foreign sources. Ichthys LNG continued to repair one of its two trains, which caused the Australian company to limit export operations. Additionally, persistent outages in Norwegian fields also risked gas supply to Europe, and the start of hurricane season in the US underpinned uncertainty of Gulf Coast LNG availability. The supply risks lifted prices despite expectations of lower demand, with ENI reporting a 16% drop in consumption throughout the second quarter due to lower energy demand for industrial activity.
Natural Gas EU Dutch TTF (EUR/MWh)39.2500.0000
The European benchmark, the Dutch TTF Gas prices, have recently...
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