This bi-weekly report explores what factors are shaping prices, balances and trade in the natural gas and LNG markets, and where we see them going.
- This chart-heavy report summarises the key developments of the fortnight, with an in-depth analysis of supply and demand fundamentals.
- These insights help to inform our short-term price outlook.
Cooling demand disappearing as we enter early autumn lull, further demand upside expected only when we enter the Northern Hemisphere winter heating season later this year. Production outages in both the East and the West should provide some support for LNG in Asia in the coming months but suddenly spike unlikely.
Natural gas prices return to pre-Covid levels. Big gas finds in the East Med to transform the region into an energy exporting Hub.
The recent price increase on the back of weather-related support will be short-lived. Overwhelming storage levels should prevent prices from any substantial move beyond current levels in the short-term.
Gazprom’s total pipeline gas deliveries to Europe were 27% lower y-o-y at 72 bcm in the first half of the year. Asian LNG spot prices increase on rising demand due to soaring temperatures.