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European Gas Market Defined by Volatility and Supply Disruptions: Total

NATGAS

The European natural gas market will be defined by volatility and supply uncertainties over the next two years, according to Patrick Dugas at TotalEnergies.

  • “Every time we have some disruption of supply it has given some ‘X’ on the prices in the market, creating volatility,” he said.
  • “It is the new set-up for the next couple of years that we need to pay attention to the supply and to this disruption.”
  • Flexibility is the answer to volatility and uncertainties as competition for LNG cargoes between Europe and Asia will remain.
  • There is however segmentation of the Atlantic and Pacific basins, amid the congestion at Panama Canal and Suez Canal disruption. “It will be more difficult to move cargoes between the basins,” resulting in physical cargo swaps.
  • Demand recovery in China and Europe will be a key market feature.

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