European gas prices vaulted to record highs this summer, driven by factors ranging from low inventories and outages to an Asian buying spree, and signalling further rises in coming months that could mean higher household bills this winter.

The front month contract at the Dutch TTF hub, a key European benchmark, hit 38.65 euros ($45.77) per megawatt hour on Tuesday, its highest since Refinitiv Eikon records began.

Record-Breaking Summer European Gas Prices Signal an Expensive Winter | Devamı>>>

The Covid-19 pandemic has brought new challenges for the global gas industry, with the LNG shipping market not being an exception. Because of the Covid-19 pandemic, the market witnessed a reduction in the global gas demand in 2020, which resulted in a slowdown of the global LNG trade and lower-than-expected demand for LNG carriers.

These developments, coupled with the commissioning of a large number of new carriers, led to the oversupply of LNG carriers in the shipping market.

New Trends On The Global Market Of Lng Carriers | Devamı>>>

Asian spot prices for liquefied natural gas (LNG) jumped to their highest in more than 20 months this week on robust buying appetite ahead of a colder-than-expected winter, trade sources said.

The average LNG price for December delivery into northeast Asia LNG-AS was estimated at about $6.90 per million British thermal units (mmBtu), jumping $1.10 from the previous week. Prices were boosted by several requirements from buyers in Japan, China and South Korea. China’s Unipec sought 10 cargoes for delivery in winter, while Shenzhen Energy sought a cargo for December delivery, traders said.

Asian Spot LNG Prices Jump to 20 Month High on Firm Demand | Devamı>>>