2023-06-05 17:23:00
The price of European gas, according to the futures contract of the Dutch TTF, considered the European benchmark, exceeded 29 euros per megawatt hour on Monday, an increase of 23% compared to Friday evening. A sharp increase to put into perspective compared to the levels posted in previous months. At the beginning of 2023, natural gas was still at 70 euros per megawatt hour and last year, at the height of the energy crisis in Europe, it had exceeded the 300 euro threshold.
The market has therefore calmed down in recent weeks, but all eyes are now on the next winter. Russian gas, transported by pipelines, will no longer flood Europe directly and supply will therefore tighten. Analysts also fear the emergence of Asia as a potential customer for liquefied natural gas (LNG). According to data from Bloomberg, it is currently more profitable for US vessels to bring their LNG to Asia, if market prices until September are taken into account.
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