High natural gas prices in Europe are attracting U.S. LNG exports, offering relief to the continent facing a potential gas shortage this winter.
As Europe ’s benchmark natural gas prices have hit a one-year high, their premium over with the U.S. benchmark gas price has widened well above 2024 averages, signaling that U.S. LNG exporters will likely further boost deliveries to Europe to take advantage of the widening spread. Currently, the price of the U.S.
Russia’s Gazprom did indeed cut off supply to OMV, but Russian gas flows to Austria haven’t fallen off a cliff, yet. The European natural gas market has been on edge for weeks with the start of the winter heating season, a massive lull in wind speeds in northwestern Europe, the OMV-Gazprom dispute, and the end of the gas transit deal via Ukraine which expires on December 31, 2024. Ukraine has said that it would not pursue talks about renewing the agreement with Russia.
Natural Gas LNG U.S. Exports Prices Russia Gazprom Winter Heating
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