In November, 12 LNG tankers arrived at GB terminals, bringing in a total of 1.2bcm (billion cubic metres) of gas to the system, the highest since September 2016 (1.3bcm). Cargoes arrived from Russia, Qatar, Egypt, USA, Trinidad & Tobago, Peru and Equatorial Guinea, with Russia providing the highest volume at 362mcm. The recent influx of LNG tankers to GB has been driven by the narrowing spread between Asian LNG spot prices and GB gas front (NBP) month prices in recent months.
Alex Mcgregor
To keep reading, please log in to your account
Related thinking
Commercial and market outlook
Polarisation of wholesale spot prices leads to opportunity for arbitrage services
Over the last five financial years, South Australia has seen a significant increase in price volatility, with substantial portions of time both negative and above $250/MWh, leading to increasing opportunities for storage systems to provide arbitrage services. A number of events initiated the reduction in wholesale energy prices between $50/MWh...
Commercial and market outlook
The Victorian story of gas demand segments
The Declared Wholesale Gas Market (DWGM) prices in Victoria have been on a rising trend since the start-up of LNG exports in 2015. Is this trend sustainable, given the Gas Statement of Opportunities (GSOO) forecasts an improved gas supply outlook with the new Port Kembla Gas Terminal (PKGT) expected to...
Power and gas networks
The rise of wholesale gas prices … the saga
It is certainly not a standard summer season for gas prices. Normally with demand for gas typically lower, we should see prices at the lowest levels of the calendar year. However, Summer 2021 gas prices are currently seeing bullish momentum with price points that we would expect to see in winter. In this ‘Chart of...
Low carbon generation
Price trends for Renewables Gas Guarantees of Origins
In May 2021 we published the findings from our latest quarterly Green Certificates Survey. The survey is designed to provide greater market transparency for Renewable Energy Guarantees of Origin (REGO), Continental Guarantees of Origin (GoOs) and Renewable Gas Guarantees of Origin (RGGO) certificate markets. It provides aggregated views on certificate...
Power and gas networks
Australian Chart of the week | Green hydrogen costs plummet, LNG prices soar
The ACCC currently calculates the LNG netback price as the price a gas exporter could receive for gas exports excluding the costs to convert and ship the gas. Asian cold weather and supply bottlenecks have driven the February LNG netback price to nearly $20 a gigajoule, more than double the...
Power and gas networks
Australian Chart of the week | Correlation does not imply causation: the story of GPG demand
“Gone are the days of $4/GJ gas”. This is a phrase that many following the Australian energy markets have heard numerous times and believed to be true since the advent of the Liquified Natural Gas (LNG) industry in Queensland. For years, this phrase held true with the gas spot price...
Low carbon generation
Australian Chart of the week | SA is breaking records… but the ducks are everywhere
Recently, there has been a lot of commentary on minimum demand levels/ the ‘duck curve’ in South Australia (SA). This due to the state with its minimum demand breaking record three times in a month. In this Chart of the week, via a time-of-day analysis, we analyse other regions of...
Power and gas networks
Australian Chart of the week | Elephant in the room: the veiled role of gas markets/supply?
Queensland Liquified Natural Gas exports commenced in early 2015. Historically, prior to this, gas markets in eastern Australia have been relatively stable. Conventional gas fields supplied large industrial users, business/residential – mass market – load as well as gas-powered generators at relatively low prices. In this Chart of the week,...
