The European and British natural gas futures rose for the third week in a row this week. UK Gas closed at GBp/thm 107.57 up 5.30%% for the week, after jumping 7.19% Friday and rising 19.78% for September. Dutch TTF futures closed around €41.86 per megawatt-hour, rising 5.20% for the week, after jumping 5.34% Friday and rising 16.30% for September. Europe NG storage is at 95.3% of capacity. That is +11.7% vs 5yr average according to data from Gas Infrastructure Europe … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures both rose again this week. UK Gas closed at GBp/thm 102.80 up 11.57% for the week. Dutch TTF futures closed around €39.65 per megawatt-hour, rising 9.49% for the week with Europe NG storage is at 94.4% of capacity. That is +12.5% vs 5yr avg according to data from Gas Infrastructure Europe and the highest ever for this time of year and well ahead of the European Union’s Nov. 1 goal. Germany, Italy, Spain … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures both rose again this week. UK Gas closed at GBp/thm 92.18 up 8.63% for the week. Dutch TTF futures closed around €36.48 per megawatt-hour, rising 5.72% for the week with EU natural gas reserves at 93.9% of capacity. That is +13.9% vs 5yr avg according to data from Gas Infrastructure Europe and the highest ever for this time of year and well ahead of the European Union’s Nov. 1 goal. Germany, Italy, Spain … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas both rose again after last week’s pull back after three weeks of rising. UK Gas closed at GBp/thm 90.21 up 4.11% for the week. Dutch TTF futures closed around €35.62 per megawatt-hour, rising 2.42% for the week with EU natural gas reserves at 92.8% of capacity. That is +17.0% vs 5yr avg according to data from Gas Infrastructure Europe and the highest ever for this time of year and well ahead of the European … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
How to Value SoftBank’s Semiconductor Arm IPO Among the NVidia and AI Frenzy
The much-anticipated IPO for SoftBank Group Corp. semiconductor unit Arm was filed Monday. With the AI frenzy Softbank is looking to time the listing to perfection. In what has been a rather dour few years for IPOs with high interest rates and a bear market for much of that period this is expected to be the year’s largest US initial public offering. Arm Holdings Ltd. didn’t disclose proposed terms in its filing Monday with the US Securities and Exchange Commission. … Continue reading “How to Value SoftBank’s Semiconductor Arm IPO Among the NVidia and AI Frenzy”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas rebound continued for the third week. Dutch TTF futures trading around €36.30 per megawatt-hour, despite EU natural gas reserves over 90% full, the highest ever for this time of year and well ahead of the European Union’s Nov. 1 goal. Germany, Italy, Spain and the Netherlands all exceeded the target. France, afflicted by strikes earlier this year is at 84%. What is supporting gas futures is possible disruptions to the LNG supply pipeline in … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Occidental Acquires Canadian DAC Technology Firm Carbon Engineering for $1.1 Billion
Houston based oil and gas producer Occidental Petroleum reported on Tuesday agreed to pay $1.1 billion for Canadian direct air capture (DAC) supplier Carbon Engineering Ltd to help it develop a string of carbon-capture sites it hopes will profit from tackling climate change. Occidental said it has been working with Carbon Engineering on DAC deployment since 2019. The deal is another from oil majors looking to add to participate in energy transition. In early July Exxon Mobil (XOM) bought Dallas … Continue reading “Occidental Acquires Canadian DAC Technology Firm Carbon Engineering for $1.1 Billion”
Russia’s Currency Slide Accelerates, Is the Ruble the New Turkish Lira?
Russia’s ruble’s selloff has picked up speed falling to its weakest level in over a year, through 100 against the US dollar for the first time since the week after Russia’s invasion of Ukraine. Less than a month ago Russia’s Central Bank (CBR) in a fight to arrest the plummeting Russian Ruble hiked rates by a more-than-expected 100 basis points. The bank pointed to rising inflationary pressures. The central bank raised its key rate to 8.5% which surprised analysts polled … Continue reading “Russia’s Currency Slide Accelerates, Is the Ruble the New Turkish Lira?”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas rebound continued this week with their biggest weekly gain since June. TTF closed last week at €35.30, a gain of 22.34% for the week. UK gas prices also closed higher at 91.00 GBp/thm to close the week up 24.78%. LNG futures traded higher with the US HH benchmark. TTF futures briefly topped €40 a megawatt-hour Wednesday after possible disruptions to the LNG supply pipeline in Australia. For perspective they are still down more than … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Woodside and Chevron Australian LNG Strikes Put 10% of World LNG Exports at Risk
The Rebound in European and British natural gas prices continued this week with their biggest weekly gain since June. We saw surging UK and European prices Wednesday after possible LNG workers strikes at Chevron and Woodside Energy facilities in the Northwest Shelf, Wheatstone and Gorgon operations in Australia which could disrupt about 10% of global exports. We also have slower Norway Maintenace. TTF futures briefly topped €40 a megawatt-hour Wednesday for the first time since June. For perspective they are … Continue reading “Woodside and Chevron Australian LNG Strikes Put 10% of World LNG Exports at Risk”