Natural Gas News – October 24, 2024
Natural Gas News – October 24, 2024
A ‘tidal wave’ of natural gas supply will reshape global markets
The biggest influx of liquefied natural gas, or LNG, supply is coming online and it will transform the global market, bringing about wide and enduring effects, said RBC Capital Markets. “A wave of new LNG supply —the biggest yet— is set to reshape the global market in the coming years, with broader implications than prior growth given increasing inter-linkages between regional gas markets following the Russia-Ukraine conflict,” analysts from the investment bank wrote in a note. The supply injection is likely to thrust the market into an extended period of oversupply by the end of 2026, which will remain until 2030, with prices possibly moving below double digits, analysts such as RBC’s Adnan Dhanani have projected. Futures for the Dutch Title Transfer Facility (TTF) hub, a European benchmark for natural gas transact… For more information, go to https://tinyurl.com/3ttabjt5
EU Hits 95% Full Natural Gas Storage Ahead of Winter
The EU’s natural gas storage is already at 95% full, data from Gas Infrastructure Europe show, after the bloc reached in August its target to have 90% full storage well ahead of its self-imposed binding deadline, November 1. In the middle of August, the EU reached its target of filling gas storage facilities to 90% of capacity 10 weeks ahead of the 1 November deadline. This achievement is on par with last year, when EU countries reached the 90% target on August 18, the European Commission said two months ago. Now the EU storage is 95% full as the heating season begins. The storage level this year is slightly below last year’s level, but above the 2017-2021 average and the 2022 storage levels, according to the data. Major economies and gas markets such as Germany and Italy have their storag… For more information, go to https://tinyurl.com/86asjzbh
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