European Gas Hub
No Result
View All Result
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
SUBSCRIBE
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
European Gas Hub
No Result
View All Result
Home Infrastructure

European gas: a new landscape of price spreads

Editor by Editor
1 year ago
min read2 min
European gas: a new landscape of price spreads
Share on FacebookShare on TwitterShare on Linkedin

‘No Country for Old Men’, regarded as one of the greatest Coen brothers’ movies, contains a scene that might look ordinary on the surface but actually it is filled with deep meaning. Towards the end of the film, Sheriff Ed Tom Bell, portrayed by Tommy Lee Jones, feels distracted by all the violence he has come across and visits another old lawman (Barry Corbin) to ask for advice. Sheriff’s friend finishes their conversation, saying: ‘You can’t stop what’s coming. It ain’t all waiting on you’.

RELATED POSTS

European gas storage spreads normalise

European gas storage spreads normalise

2 weeks ago
Gas storage market trends in 2021 and 2022 – key takeaways

Gas storage market trends in 2021 and 2022 – key takeaways

4 weeks ago
Northwest European LNG projects landscape – December 2022

Northwest European LNG projects landscape – December 2022

1 month ago

Though seemingly a simple phrase, it perfectly explains that the world tends to change over time, which in turn requires everyone to adjust to the new environment. When it comes to European gas, it is the shift in locational spread patterns that, among other things, have set the context for 2021 market.

This year, it has become common to see TTF traded at a premium to other market areas. Take, for example, the front-month spread between VTP Austria and the Dutch hub, which has stood on average at minus €0.2/MWh between 1 January and 22 October 2021 as compared to last year’s €0.5/MWh. Of course, this is partly the result of special circumstances that has prevailed in the market over the course of 2021.

Among them are unstable LNG supplies to the Gate terminal and slow injections into the Europe’s largest Bergermeer storage facility, while Central Europe has at hand the Ukrainian UGSs filled with large amount of gas by non-resident trading companies during the last winter. However, even after all those factors cease to exist, prices on the Dutch hub should not return to previous levels, with the TTF premium over other hubs being key to drawing volumes away from neighbouring markets as the Groningen field is expected to stop production in mid-2022.

Meanwhile, Italy’s PSV and Hungary’s MGP products have now been assessed much lower than in previous years, when compared to the equivalent contracts in the market areas these two countries were importing large volumes from. Following the start-up of new supply routes, demand for gas flowing from NWE and Austria has significantly decreased among players within the Italian and Hungarian markets respectively. With the TAP pipeline being put in service early in 2021, this year’s imports to Italy via the Passo Gries entry point were restricted to periods in which additional flows from alternative sources were unavailable or when domestic consumption soared. After the completion of Kireevo/Zaychar and Horgos/Kiskundorozsma 2 interconnection points, Serbia and Hungary one after another joined the TurkStream corridor, making trades on VTPA less appealing for local buyers.

From the above, one may realize that a new landscape of price spreads between European gas hubs is taking shape in 2021. Market has gone through another stage of development right before our eyes 😉

Source: Yakov Grabar (LinkedIn)

Tags: European gas hubsEuropean gas infrastructureEuropean gas storagegas flexibilityTTF gas prices
Editor

Editor

Related Posts

European gas storage spreads normalise
Gas Prices

European gas storage spreads normalise

2 weeks ago
Gas storage market trends in 2021 and 2022 – key takeaways
Infrastructure

Gas storage market trends in 2021 and 2022 – key takeaways

4 weeks ago
Northwest European LNG projects landscape – December 2022
Gas Prices

Northwest European LNG projects landscape – December 2022

1 month ago
spot-gas-markets
Infrastructure

Europe’s exposure to spot gas markets set to grow drastically

2 months ago
European gas trading down by 25%
Gas Prices

European gas trading down by 25%

3 months ago
European-gas-prices
Infrastructure

European gas prices: how long will the October meltdown last?

3 months ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Posts

European gas prices drop to pre-war lows

European gas prices drop to pre-war lows

3 weeks ago
European and Asian gas prices below last year’s December levels

European and Asian gas prices below last year’s December levels

4 weeks ago
European-gas-storage

The true value of European gas storage

7 days ago
Load More

Recent Post

European-gas-storage

The true value of European gas storage

7 days ago
European gas storage spreads normalise

European gas storage spreads normalise

2 weeks ago
European-gas-price

What’s behind the European gas price decline?

2 weeks ago
Load More

European Gas Hub is an online platform for sharing analysis and information about European natural gas markets more info

Categories

  • European Gas Prices
  • Energy Policy
  • European Gas Infastructure
  • European Gas Storage
  • Coal Market
  • Supply & Demand
  • Gas Supply & Demand
  • LNG
  • Other
  • Unconventional Resources

Recent Posts

The true value of European gas storage

European gas storage spreads normalise

What’s behind the European gas price decline?

Energise your Tuesday!

Sign up to receive our weekly newsletter with new European gas market reports, presentations & analysis. Every Tuesday.

By signing up, I agree to our TOS and Privacy Policy.

© 2020 EuropeanGasHub | All Rights Reserved

No Result
View All Result
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login

© 2020 EuropeanGasHub | All Rights Reserved

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Energise your Tuesday!

SIGN UP to receive our weekly newsletter with new European gas market reports, presentations & analysis. EVERY TUESDAY!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?