Commodity Market Report

Global gas & LNG weekly summary: 10 October 2024

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November TTF prices settle at $12.50/mmbtu after rising to $13 due to the contract rollover. As gas prices increase, coal becomes more competitive, supported by lower CO2 emission allowances of around €64. European storage remains high at 94.6%, consistent with previous years, while Gassco flows rise weekly. Market tightness has grown as early signs of winter demand emerge, a consequence of cold weather in Germany triggering withdrawals from European stocks on October 2-3. Troll field is still under maintenance after a compressor failure, and the UK St. Fergus terminal remains offline until October 14, five days later than planned.

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  • Another two vessels dock at Arctic LNG-2 while escalating Iran-Israel tension adds pressure to prices
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Tables and charts

This report includes the following images and tables:

  • Weekly European gas fundamentals
  • Weekly floating LNG storage and trade routes

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