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Gas Edge: Markets calm despite winter uncertainty

SNL Energy Daily Gas Report, 2022

Copyright SNL Financial LC Nov 24, 2022 ;EISSN: 1937-1160

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  • Title:
    Gas Edge: Markets calm despite winter uncertainty
  • Author: S&P Global Commodity Insights
  • Subjects: Cargo ships ; Circuit breakers ; Cold ; Commodities ; Gasoline prices ; Liquefied natural gas ; Measuring instruments ; Natural gas ; Pain ; State programs ; Summer ; Volatility ; Winter
  • Is Part Of: SNL Energy Daily Gas Report, 2022
  • Description: The resulting sharp contango, coupled with some physical congestion at European regasification terminals, drove a buildup of laden liquefied natural gas vessels off the coast of Gibraltar and Malta; by Nov. 17, 26 vessels with an aggregate of 2.5 billion cubic meters of cargo were idled near Europe. [...]far, to ease the pain for gas consumers, most notably Germany's, most state programs have taken care to avoid interfering with price signals and should not lead to upward pressure on household demand. * Absent an extremely cold winter, Europe's winter challenge is about prices rather than gas availability. A few helpful measures are likely to be adopted around the edges of the gas market, including a "circuit-breaker" mechanism to reduce intra-day price volatility on TTF and other traded gas markets in the EU, and some form of limited joint gas purchasing to be put into effect in spring 2023, essentially as a pilot project. * Volatility in spreads between Asian and European spot prices.
  • Publisher: Charlottesville: SNL Financial LC
  • Language: English
  • Identifier: EISSN: 1937-1160
  • Source: ProQuest Central

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