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Peter Ramsay
Editor-in-chief
16 June 2022
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Supply blows rock European gas market

Russian reductions compound US LNG outage as continent seeks relief in the short and longer term

Russian state-controlled gas firm Gazprom has roiled the European market by announcing two cuts to maximum flow levels through its Nord Stream 1 pipeline this week, citing compressor issues. The supply reductions come on the back of a cut in US LNG export capacity due to a fire at the Freeport LNG export facility on Texas’ Gulf of Mexico coast. The benchmark northwest Europe TTF front-month contract on the Ice exchange jumped by almost 45pc in just two trading days, from €83.40MWh ($86.90/MWh) on Monday to over €130/MWh by the end of Wednesday, before rising further to €145/MWh+ in Thursday morning trade. In the wake of mounting supply concerns, Centrica—the UK’s largest gas utility—has stru

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Also in this section
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Letter from Canada: LNG export industry in disarray
Opinion
1 February 2023
Canada at one stage looked set to be a major LNG exporter, but all except four liquefaction projects have fallen by the wayside
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1 February 2023
The North Dakota shale basin nears a looming acreage problem
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31 January 2023
The gas field could help Trinidad and Tobago sustain its LNG industry

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