TTF set to slide further
Morgan Stanley cuts its EU gas price forecast to €35/MWh for Q2 and warns of gas storage reaching tank-tops by August amid strong LNG inflows
Morgan Stanley cuts its EU gas price forecast to €35/MWh for Q2 and warns of gas storage reaching tank-tops by August amid strong LNG inflows
This is the second price forecast cut in as many months
Europe is (temporarily) awash with gas, even during a late cold snap and without Russian pipeline flows
Europe is (temporarily) awash with gas, even during a late cold snap and without Russian pipeline flows
https://twitter.com/energyfluxnews/status/1622630258099818508
Why? LNG cargoes are chasing profits, and there are slim pickings in Asia.
The delivered price of #USLNG to Europe is still marginally higher than Japan, despite TTF weakness. Chinese gas demand yet to reawaken
The delivered price of #USLNG to Europe is still marginally higher than Japan, despite TTF weakness. Chinese gas demand yet to reawaken
This dynamic will persist until EU gas demand picks up or, more likely, LNG cargoes are diverted to Asia
For now that’s not happening, so gas will get even cheaper this summer until the LNG flood abates
For now that’s not happening, so gas will get even cheaper this summer until the LNG flood abates
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