By the beginning of the second half of April, the EU's underground gas storage facilities (UGS) were only 36% full, 42% below last year's level. At the same time, the volume of gas withdrawals remains almost twice as high as in 2024, despite the heating season ending on March 28.
Asian nations, including South Korea, Indonesia, Thailand, and Japan, are increasing imports of US liquefied natural gas (LNG). The move aims to reduce their trade surpluses with America and mitigate the impact of reciprocal tariffs imposed by the Trump administration.
As US President Donald Trump insists Europe increase its spending on American gas by $350 billion, the European Union plans to lower its gas storage targets from 90% to 80% to curb expenses. Meeting this US demand could potentially resolve tariff disputes between the transatlantic allies.
The trade standoff between the world’s two largest economies is complicating things for Chinese natural gas importers, Reuters says. At first, their task was to resell the fuel to Europe, but now they must find alternative markets.
The United States has reported unprecedented natural gas consumption for both winter and summer of 2024. According to the Energy Information Administration (EIA), this surge in demand occurred alongside strong output, despite a decline in drilling activity.
Shell anticipates lower-than-expected gas production in the first quarter 2025 due to unplanned maintenance at its Australian facilities. Shell forecasts integrated gas production of 910,000–950,000 barrels of oil equivalent.
Italy is introducing a new incentive system for companies to speed up the filling of gas storage facilities. At the end of the winter season, they were only 42% full, according to electricity grid operator Snam. This raises concerns about the country's readiness for the next heating season.
European gas prices are falling on Monday, following a decline in oil prices and global stock indices. Market pressure intensified after new trade duties were imposed, fuelling growing concerns of a global economic slowdown.
China hasn’t imported liquefied natural gas (LNG) from the United States for 60 days, the longest gap in five years. The disruption is attributed to escalating trade tensions between Beijing and Washington, prompting Chinese companies to divert supplies to alternative markets.
An increase of the indicator value may contribute to the rise in quotes of NG.
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
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