This blog looks at gas demand during the cold spell across Europe in the 2017-18 winter. The Argus quarterly market update on 10 April looked at how supply ramped up to cope with the highest consumption in recent years.
Dutch and German gas consumption rose to the highest since at least October 2012 during cold weather in late February-early March, while UK demand was at its highest since mid-December 2010.
This blog will focus on topics to be covered in the upcoming Argus European Natural Gas webinar for the first quarter of 2018. Invitations to the webinar will be sent to subscribers soon.
The rapid rise in UK NBP and Dutch TTF natural gas prompt prices during the cold snap has grabbed headlines. But the lack of supply flexibility this week has taken all winter to create.
The Dutch system operator bought balancing gas for €545/MWh, while NBP within-day prices hit £1.94p/th, up from yesterday’s day-ahead market close of 91.15p/th.
This blog on storage addresses the tight seasonal spreads analysed in the Argus European Natural Gas quarterly webinar in January. The live webinars — including recording and brief document — are usually only available to subscribers, but to complement this blog the January one is available here.
One of the zombie ideas that refuses to die in the energy world is that the global LNG market is “oversupplied”.
The spike in UK gas prices yesterday demonstrated that the NBP remains a well-functioning hub, while Italy’s PSV struggled to deal with a halt to Tag pipeline flows following an explosion at Austria’s Baumgarten compressor station.
UK wholesale gas prices did what the market is designed to achieve, which is to ensure there are no interruptions to supply.