Oil & Gas Sector Check - European Winter Severity To Determine Gas, LNG Price Outlook: ICICI Securities
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ICICI Securities Report
Dutch Title Transfer Facility and UK National Balancing Point, gas prices are up 22% in the last three days to $24.524.6/ metric million British thermal unit.
This surge was triggered by German energy regulator saying it has four months to certify Nord Stream two gas pipeline and fire at a conveyer station in UK that shut cable transmitting one gigawatt power from France to UK.
Japan Korea Marker spot liquefied natural gas futures for November 2021-February 2022 spiked to $25.7-26.8/mmbtu as Asia and Europe compete for gas supplies.
European gas storage being at least at 11-year seasonal low is one of the main drivers of global gas and LNG rally and is also key to outlook.
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