Related Articles
An LNG tanker approaching the port of Mugardos in Spain
Forward article link
Share PDF with colleagues

Europe’s gas market to rely on imported flexibility – IEA

Despite current unusually high prices, the agency is relatively relaxed that portfolio LNG can replace domestic swing without the need for radical change in European contracting

European and global gas prices in the second quarter have not been as “calm” as the IEA was expecting at the end of Q1, Jean-Baptiste Dubreuil, the organisation’s senior gas analyst, admitted in early July. “A string of extreme events”, including a drought in Latin America and heatwaves in Asia and the Pacific coast of North America, have driven prices higher. In Europe, the benchmark Dutch TTF market averaged $8.70/mn Btu, while current spot and forward prices led the IEA to assume “prices will remain well above their five-year averages during the second half of 2021, at $11/mn Btu”. $8.70/mn Btu – Average TTF price in Q2 Maintenance and unplanned outages have reduced supply,

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Beijing strives to balance security and decarbonisation
15 October 2021
The ongoing global energy crunch underlines the difficult task facing China’s leaders in balancing energy supply security while reaching net zero in the next 40 years
Occidental exits Ghana
15 October 2021
The US super-indie is divesting its assets in the country
Gran Tierra cranks up the gears
14 October 2021
Midstream takeaway has returned to normal in Colombia, paving the way for production growth opportunities
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video