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
    • GLOBAL HYDROGEN 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
    • GLOBAL HYDROGEN HUB
  • Subscribe
  • My account
  • Login
European Gas Hub
No Result
View All Result
Home Gas Prices

European gas prices drop back to $23

Editor by Editor
1 year ago
Reading Time: 2 mins read
LNG cargoes via the Panama Canal
Share on FacebookShare on TwitterShare on Linkedin

Overseas international benchmarks in Europe have dropped for the eighth consecutive day in a row.

RELATED POSTS

Asian-price-premium

JKM: return of the Asian price premium?

5 days ago
TTF-drops

TTF drops below the $10/mmbtu mark for the first time since June 2021.

2 weeks ago
timera-energy

Gas storage value in a post-crisis market

2 weeks ago

The TTF, which had reached peaks of $60 a mere two weeks ago, has sunk all the way to $23, as much-sought-after warmer weather hits Europe and an influx of LNG cargoes arrive into European ports.

The graph below displays Congestion Times at the Panama Canal, which can sometimes be used as a proxy calculation to evaluate the destinations of cargoes. Despite higher prices this winter, congestion at the Panama Canal has not risen to the levels first witnessed in the winter of 20/21 – this is largely a result of the fact that elevated gas pricing has made a multitude of shipping routes available to the average LNG ship – the extra time it takes to traverse around the Cape of Good Hope or through the Suez Canal to reach Asian ports matters less due to the fact that the high netbacks available offset the cost of additional days of travel.

The Panama Canal is no longer the only profitable route to Asia, though it still remains the one with the largest profit margins. The last wick on the bar chart below highlights the fact that the current congestion time at the Panama Canal is just above 5 days – astonishingly low.

This latest move downwards indicates that something more is occurring internationally other than the economic viability of every international trade route; in fact, this last wick highlights the fact that more ships are opting to head towards Europe, as opposed to Asia.

Over the last month, LNG imports into Europe have risen by nearly 2 Mt, while flows into Asia have remained relatively stable. This move can also be justified through the observation that for a period of time throughout the last month, European prices outbid those of Asian prices.

Current price weakness in Europe is based on these higher flows, as well as the relief they’ve received from forecasts that have trended on the warmer side. Yet, risk for higher prices still remains, and a number of variables, from the possible approach of colder temperatures to the potential for further-reduced Russian flows, could exacerbate the European storage crisis.

Source: Gelber and Associates

Tags: European gas pricesGelber and AssociatesLNG cargoesPanama Canal transit times
Editor

Editor

Related Posts

Asian-price-premium
Gas Prices

JKM: return of the Asian price premium?

5 days ago
TTF-drops
Gas Prices

TTF drops below the $10/mmbtu mark for the first time since June 2021.

2 weeks ago
timera-energy
Gas Prices

Gas storage value in a post-crisis market

2 weeks ago
Russian-gas-exports
Gas Prices

Russian gas exports to Europe down by 20%

3 weeks ago
LNG-prices
Gas Prices

Weekly trend of natural gas and LNG prices – May 9

4 weeks ago
Natural-gas-price
Gas Prices

Natural gas price benchmarks: prices continue to ease

1 month ago

Leave a Reply Cancel reply

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

No Result
View All Result

Trending Posts

timera-energy

Gas storage value in a post-crisis market

2 weeks ago
LNG-prices

Weekly trend of natural gas and LNG prices – May 9

4 weeks ago
TTF-drops

TTF drops below the $10/mmbtu mark for the first time since June 2021.

2 weeks ago
Load More

Recent Post

Asian-price-premium

JKM: return of the Asian price premium?

5 days ago
TTF-drops

TTF drops below the $10/mmbtu mark for the first time since June 2021.

2 weeks ago
timera-energy

Gas storage value in a post-crisis market

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

JKM: return of the Asian price premium?

TTF drops below the $10/mmbtu mark for the first time since June 2021.

Gas storage value in a post-crisis market

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
    • GLOBAL HYDROGEN 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!