 |
Louisiana Light • 1 day | 86.79 | -0.77 | -0.88% | ||
|
Bonny Light • 1 day | 88.04 | -0.81 | -0.91% | ||
|
Opec Basket • 2 days | 88.72 | +0.00 | +0.00% | ||
|
Mars US • 180 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.632 | -0.060 | -2.21% |
|
Bonny Light • 1 day | 88.04 | -0.81 | -0.91% | ||
|
Girassol • 1 day | 89.07 | -0.57 | -0.64% | ||
|
Opec Basket • 2 days | 88.72 | +0.00 | +0.00% |
|
Peace Sour • 9 hours | 75.13 | -0.70 | -0.92% | ||
|
Light Sour Blend • 9 hours | 78.18 | -0.70 | -0.89% | ||
|
Syncrude Sweet Premium • 9 hours | 85.13 | -0.70 | -0.82% | ||
|
Central Alberta • 9 hours | 75.53 | -0.70 | -0.92% |
|
Eagle Ford • 1 day | 78.41 | -0.70 | -0.88% | ||
|
Oklahoma Sweet • 1 day | 78.25 | -0.75 | -0.95% | ||
|
Kansas Common • 1 day | 72.25 | -0.75 | -1.03% | ||
|
Buena Vista • 2 days | 87.60 | -1.22 | -1.37% |
Breaking News:
The Novel Material Revolutionizing Energy Storage
Washington University in St. Louis…
India's Steel Industry Faces Challenges Despite Growing Demand
India's steel imports have surged,…
Feedgas Volumes To U.S. Freeport LNG Plant Plunge
The volumes of feedgas into the major U.S. LNG export facility Freeport LNG plummeted this weekend, at a time when the global gas market could tighten ahead of the winter with a strike at Australian LNG plants and maintenance in Norway.
Feedgas flows to Freeport LNG plunged from 1,640 million cubic feet per day (mcf/day) on Friday, to 702.9 mcf/day on Saturday and further to 284.3 mcf/day on Sunday, according to data from LSEG cited by Reuters.
On Monday, feedgas flows to the second-largest U.S. LNG exporting plant, averaged around 622 mcf/d, per the data.
According to Leo Kabouche, LNG market analyst at consultancy Energy Aspects, the decline in feedgas over the weekend suggests that at least two Freeport LNG units, or trains, were not taking any gas.
Global demand for U.S. LNG has jumped since the Russian invasion of Ukraine and the Russian halt of pipeline gas deliveries to most of Europe.
Ahead of this winter, prices haven’t jumped too much thanks to high levels of gas in storage in Europe. But over the past weeks, the benchmark European gas prices were volatile amid strike threats in Australia.
While European buyers rarely import Australian LNG due to the long trip, Asia could see some of its Australian supply drop, intensifying competition with Europe for volumes from elsewhere.
On Monday, the front-month futures at the TTF hub, the benchmark for Europe’s gas trading, were up by 6.8% at $39.60 (36.85 euros) per megawatt-hour (MWh) as of 1:32 p.m., amid continued supply concerns.
Workers at Chevron’s LNG facilities Gorgon and Wheatstone began a strike on Friday after talks with the projects’ operator fell through. No deal is expected to be reached, Chevron Australia said on Monday, while workers at the local trade unions prepare for full-scale strikes.
In addition, outages in Norway – now Europe’s top gas supplier – due to regular maintenance also pushed gas prices higher on Monday.
ADVERTISEMENT
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com:
- U.S. Shale Firms Drill Deeper Wells In Search Of Efficiency
- Oil Prices Falling Back But Set For Another Weekly Gain
- Chevron LNG Workers Begin Strike
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
