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Oil & Gas Sector Check - European Winter Severity To Determine Gas, LNG Price Outlook: ICICI Securities

Oil & Gas Sector Check - European Winter Severity To Determine Gas, LNG Price Outlook: ICICI Securities

<div class="paragraphs"><p>Ice covers valve control wheels connected to pipe work at OAO Gazprom's new Bovanenkovo deposit, a natural gas field near Bovanenkovskoye on the Yamal Peninsula in Russia.&nbsp; (Photographer: Alexander Zemlianichenko Jr./Bloomberg)</p></div>
Ice covers valve control wheels connected to pipe work at OAO Gazprom's new Bovanenkovo deposit, a natural gas field near Bovanenkovskoye on the Yamal Peninsula in Russia.  (Photographer: Alexander Zemlianichenko Jr./Bloomberg)

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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.

Click on the attachment to read the full report:

ICICI Securities Gas Sector Update.pdf

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