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MNI Gas Weekly: Gas Markets Softening on Eased Supply Fears

NATGAS

Executive Summary:

  • European Gas Benchmarks have taken a more bearish trajectory this week with supply fears easing and inventories building to 92% - well ahead of schedule.
  • Egypt’s LNG demand could provide support to European prices over winter after its rapid return to the market this year in a bid to avert power shortages.
  • Asia’s LNG market has slipped back this week as healthy supply satiates demand and provides security in the event of any demand uptick.
  • Russia’s Power of Siberia 2 is set to reach full capacity by January 1, 2025, having been on a gradual ramp up phase since 2019.
  • Henry Hub is ticking higher after hitting a four-month low Aug. 28 supported by pockets of cooling demand and weaker production.
  • Full Piece Here:
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