Energy, Energy Market, Gas, Gas Market
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 23:49
Lithuania’s Ignitis: Natgas market sees tentative recovery in June
The Dutch TTF price index for July averaged at 5.23 euros per megawatt-hour (MWh), up by 0.21 euros from the June average but down by 52% from the year-earlier average.
Asia’s EAX index of LNG prices for August delivery exceeded the Dutch TTF by 0.92 euros per MWh on the last day of June and the gap shrank more than twofold from the month earlier, which, according to Ignitis, was mostly due to a rise in the Dutch TTF index that increased by approximately 2 euros per MWh from the end of May.
The Dutch TTF index also exceeded the US Henry Hub index of natural gas prices – by 1.22 euros per MWh – in late June.
Natural gas flows to US exports terminals shrank by approximately 30% in June versus May as the recalls of some LNG cargoes from the United States in summer led to a decline in the demand for natural gas liquefaction. Such a situation is likely to prevail until the US gas regains price competitiveness in the global market.
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