Gas stock prices in Europe rose sharply this week amid abnormal temperatures in August and risks of reduced liquefied natural gas (LNG) supplies. This is evidenced by the data of the ICE exchange.
At the moment, the price of gas futures for September futures executed on the 15th has exceeded $465.72 per m3 (+18.89%). As of 17:20 Moscow time, the price per cubic meter of natural gas fell to $ 446.18.
The rise in prices is linked to forecasts of abnormally hot weather in Europe this week. increases Demand for gas to generate electricity. In addition, the market fears possible cuts in Australian LNG supply. strikes workers in Australia.
Recently, ICIS head of gas analytics, Tom Marcek-Manser, said that potential strikes could cause problems worldwide.
“Although Australian LNG almost never makes its way to Europe, the loss of supply will have a domino effect,” said Marcek-Manser. CNNHe noted that Asian buyers who do not have enough gas will withdraw their cargo from Europe.
Europe’s largest economy last week warned On the risk of gas shortages by 2027.
LNG supply to Europe before fallen lowest level since November 2021