Blog - Page 15

Quarterly report – Q4 2020 – International natural gas prices

Posted in Natural Gas Prices on
  • In the last quarter 2020, international spot prices continued their upward momentum to exceed last year’s price levels. Asian spot prices in particular rose impressively to peak at a six-year high of 12$/MBtu at the end of the year. 
  • This recent and unexpected spike in Asia was fuelled by Chinese LNG demand, which is rising amid a colder than average winter, and also healthy weather-driven gas demand in other parts of Northeast Asia. On the supply side, diverse LNG plants’ outages limited available LNG supplies. Tight shipping and exorbitant shipping rates also tightened supplies. 
  • In this context, more and more LNG cargoes were redirected from the Atlantic Basin to Asia. In December, the price spread between the US and Asia reached its highest in two years. The Asian spot price premium versus TTF also peaked to more than 3.5$/MBtu. 

UNDERGROUND GAS STORAGE IN THE WORLD – 2020 STATUS

Posted in CEDIGAZ Insights, Underground Gas Storage on

The newly issued 2020 report on UGS by CEDIGAZ highlights the key data from the 2020 update of its global UGS database and provides a detailed analysis of 4 markets of utmost importance in balancing global gas markets now and tomorrow: Europe, Ukraine, Russia and China.

2020 UGS HIGHLIGHTS:

Europe: unprecedented high stock volumes in storage

Uncertainty about the outcome of the Russia-Ukraine negotiations after the expiry of the transit contract between Gazprom and Naftogaz at the end of 2019, strong LNG capacity additions and the Covid-19 triggered demand crunch have resulted in record filling levels of European UGSs and have led European shippers to turn to Ukraine to store their excess gas.

GERMANY HYDROGEN INDUSTRY AND NATIONAL STRATEGY

Posted in CEDIGAZ Insights, Hydrogen on

The International Association Cedigaz has just released its report “GERMANY National Hydrogen Strategy: Germany aims for leadership in green hydrogen technologies”, which assesses developments and prospects for green hydrogen in Germany and some potential supplying countries. 

Report’s key highlights 

  • The German federal government adopted its National Hydrogen Strategy (NWS) in June 2020, which is seen as a pivotal element for Germany to be climate neutral by 2050. The German government considers that only hydrogen produced on the basis of renewable energies is sustainable in the long term.