Commodity Market Report
Global gas & LNG weekly summary: 11 March 2022
Report summary
European gas prices cool after Russian imports increase week-over-week Gas prices swung wildly this week with all eyes on Russian gas supply delivered to Europe. Concerns of drops in supply saw TTF trade at record highs. After spiking to over 345 euro/mwh earlier in the week, TTF fell to 126 euro/mwh on Thursday to end the week down. Higher prices have led to an influx of LNG as well as higher Russian imports via pipelines due to increased nominations by European utilities. As a result of the increased supply, storage withdrawals have slowed significantly which has provided further relief to the European storage picture. On the 1st of March, storage inventory levels re-entered the 5-year range for the first time since the 24th of June last year and now sit at 28 bcm.
Table of contents
- European gas prices cool after Russian imports increase week-over-week
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- Prices as of 9 March 2022
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