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La Nina Weather Patter to Hit Energy Markets: Platts

WEATHER
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The likely return of La Nina climate phenomenon, and the associate shift in global weather patterns and temperature extremes, will bring a new wave of disruption and volatility to key global commodity markets, Platts said.

  • For energy markets, La Nina could bring a greater frequency of hurricanes in the Gulf of Mexico. This could cause outages and disruptions to both refineries and LNG liquefaction terminals on the USGC.
  • The colder weather towards winter may also drive higher energy usage in the US and China. This could be suppor­tive for both US natural gas, as well as global LNG demand from China.
  • Between 2020-2023, La Nina has driven a 54% price premium for US FOB loading LNG. FOB loading WTI has a smaller, but still notable 9% price premium.

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The likely return of La Nina climate phenomenon, and the associate shift in global weather patterns and temperature extremes, will bring a new wave of disruption and volatility to key global commodity markets, Platts said.

  • For energy markets, La Nina could bring a greater frequency of hurricanes in the Gulf of Mexico. This could cause outages and disruptions to both refineries and LNG liquefaction terminals on the USGC.
  • The colder weather towards winter may also drive higher energy usage in the US and China. This could be suppor­tive for both US natural gas, as well as global LNG demand from China.
  • Between 2020-2023, La Nina has driven a 54% price premium for US FOB loading LNG. FOB loading WTI has a smaller, but still notable 9% price premium.

Keep reading...Show less