Daily review of natural gas prices – Henry Hub, JKM, TTF – and key market events
Gas Prices at the hubs:
Day change: $0.104, up 6.4% | Settle: $2.760 | February 2021
Day change: $0.141, up 2.0% | Settle: $7.105 | February 2021
Day change: $0.055, up 0.6% | Settle: $8.615 | March 2021
In front of the European Gas Virtual online conference, Gazprom’s head of exports stated that “natural gas is fully compatible with global goals on climate change”
Meanwhile, during the same conference, Gazprom’s Chairman, Viktor Zubkov, reiterated a call for natural gas as a motor fuel to meet climate objectives.
After sitting idle for ~8 years, Egypt announced it would restart its Damietta LNG export facility at the end of February.
As prices have risen since 2020, Egypt indicated that it intends to leverage its proximity to become a major supplier to the EU amid an energy transition.
Hmm, awkward – after calling on the TX RRC last year to change its leniency on gas flaring permits, BP had 121 flaring requests come up for consideration today.
Jim Wright (R) of the commission stated: “I am amenable to allowing fair time for flaring to occur in certain circumstances, but limits must be set”.
Meanwhile, our very own Chairman – Charif Souki is calling on the industry to take the necessary steps to clean up emissions under the new US administration.
Charif is calling for a complete ban on methane leaks from gas operations and a nationwide price on carbon – similar to that in Europe…
Charif went on further to state: “we want to repair our relationships around the world and I think natural gas is going to be central to this discussion everywhere”.
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