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European Natgas Prices Rise Amid Supply Concerns: ANZ bank

NATURAL GAS

European natural gas prices have been boosted by apprehensions around supply, ANZ bank said it a note Aug 8.

  • The escalating conflict in Ukraine and step-up in Russian and Ukrainian attacks put gas flows into Europe via the conflict area at risk, the bank said.
  • Meanwhile Norway’s Troll field is set to see further maintenance work which will reduce output this week and later in August, the bank said.
  • Around 17.5 mcm/d of capacity is currently unavailable at Troll amid yearly maintenance scheduled to last until Aug. 16, according to Gassco.
  • North Asian LNG prices had also pushed higher, the bank noted.

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