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LNG: Spanish Gas & LNG Prices Flip to Discount Vs NWE: Platts

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The increasing supply of renewables, coupled with robust underground storage, has reduced the demand for natural gas and LNG in Spain, pushing prices of both the domestic fuels to discounts compared to NWE, Platts said.

  • Spanish PVB month-ahead was assessed at an average discount of 41-euro cent/MWh to TTF.
  • Demand for gas in Spain has been slowing due to subdued activity and few buyers.
  • Total gas consumption in Spain is down around 16% on the year.
  • The weakness in regional gas hubs was trickling down into LNG markets. LNG imports into Spain stood at 1.05m mt in September, up from 940k mt in August.
  • Spain is expected to import four cargoes between October and November.
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The increasing supply of renewables, coupled with robust underground storage, has reduced the demand for natural gas and LNG in Spain, pushing prices of both the domestic fuels to discounts compared to NWE, Platts said.

  • Spanish PVB month-ahead was assessed at an average discount of 41-euro cent/MWh to TTF.
  • Demand for gas in Spain has been slowing due to subdued activity and few buyers.
  • Total gas consumption in Spain is down around 16% on the year.
  • The weakness in regional gas hubs was trickling down into LNG markets. LNG imports into Spain stood at 1.05m mt in September, up from 940k mt in August.
  • Spain is expected to import four cargoes between October and November.