Commodity Market Report
Global gas & LNG weekly summary: 27 June 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
July TTF prices ended the week at $10.54/mmbtu, narrowing the differential between Northwest Europe DES. The ongoing arbitrage supports cross-basin flows to Asia. Structurally higher shipping prices are exacerbated by reduced ship availability. European underground storage rose to 76%, aligning with 2023 levels despite warmer weather. Incremental power demand was met by strong renewable energy, reducing the need for additional gas power burns. Norway's Hammerfest LNG terminal resumed operations after a power failure on 22 June. Gassco's supply continues at reduced capacity, with Kaarsto and Visund contributing 12.6 mcmd and 7.4 mcmd of unavailable capacity respectively.
Table of contents
- >> The full report is available as a PDF in the Download section
- Market participants watch closely to see impact on transhipment sanctions as the northern sea route opens
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Extract examples of the PDF report
- >> The full report is available as a PDF in the Download section
Tables and charts
This report includes 2 images and tables including:
- Weekly European gas fundamentals
- Weekly floating LNG storage and trade routes
What's included
This report contains:
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