Commodity Market Report
Global gas & LNG weekly summary: 04 July 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
August TTF prices fell by 40 cents over the last week, ending at $10.39/mmbtu. The increase in Norwegian pipeline flows led to a robust gas supply while demand remains muted. With expectations of warmer weather, heatwaves across France may impact nuclear plant efficiency, potentially reducing nuclear power availability in the UK. This could decrease pipeline gas flow from Europe to the continent, tightening the gas market and incentivising more LNG demand. European underground storage rose to about 77%, similar to 2023 levels. The arbitrage between Northeast Asian DES and TTF remains open, supporting cross-basin flows to Asia. Over the last week, piped gas in the UK has suffered due to compressor unavailability from unplanned maintenance at the Cygnus field.
Table of contents
- >> The full report is available as a PDF in the Download section
- Northwest Europe heatwaves could affect LNG send-outs over the coming weeks
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Extract examples of the PDF report
- >> The full report is available as a PDF in the Download section
Tables and charts
This report includes the following images and tables:
- Weekly European gas fundamentals
- Weekly floating LNG storage and trade routes
What's included
This report contains:
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