Pricewatch l 12 September 2023 I Gas Matters Today

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European natural gas futures rose on Monday with supply still threatened by strike action at main Australian LNG plants as the market awaits the outcome of more talks between the sides.

On Tuesday, the Fair Work Commission is due to hear the parties’ cases, after Chevron applied to the labour regulator to help resolve the dispute with unions at the Gorgon and Wheatstone LNG facilities.

TTF rose by 4.2% to USD 11.29//MMBtu, while NBP rose 6.3% to USD 11.25/MMBtu.

Meanwhile, JKM remained resilient and grew by a minor 0.4% to USD 13.39/MMBtu.

According to Energi Danmark, the market fell early on Tuesday as the Troll field outage in Norway did not drive prices higher.

The Henry Hub remained flat on Monday at USD 2.61/MMBtu despite falling temperatures and waning weather-driven demand.

In addition, feedgas flows to second-largest US LNG plant dropped sharply over the weekend and remained down for the third day in a row on Monday. Input levels on the pipeline serving the facility showed feed levels had fallen to 702.9 Mcf/d on 9 September, and dropped further to 284.3 Mcf/d on 10 September, down from 1,640.3 Mcf/d on 8 September, LSEG data showed.

Front-month futures and indexes at last close with day-on-day changes (click to enlarge): Time references based on London GMT. Brent, WTI, NBP, TTF and EU CO2 data from ICE. Henry Hub, JKM and API2 data from CME. Prices in USD/MMBtu based on exchange rates at last market close. All monetary values rounded to nearest whole cent/penny. Text and graphic copyright © Gas Strategies, all rights.

Contact the editor:

Jana Sutenko
[email protected]

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