Chinese imports return to buying liquid natural gas in the market area after a long break.
European gas rises in prices against the back of Asian demand and reduction of supplies from Norway. It was written by Bloomberg on Tuesday, May 6.
It was noted that the major futures increased by 4.3%, which became the greatest growth of the day in the last month. Gas futures in the Netherlands were exchanged for $ 412 per thousand cubic meters.
Chinese imports return to the purchase of liquid natural gas in the market area after a long pause, which aggravated the competition for delivery between Europe and Asia. An additional factor is an increase in oil prices, in which some gas contracts are tied.
At the same time, maintaining deposits in Norway, Europe’s largest supplier, limited pipeline flow. The situation is complicated by unplanned stopping and cooling in Europe.
Remember that the European Union was working on a proposal to inhibit Russian gas imports by the end of 2027. Meanwhile, Hungary blocked the statement of the EU’s new plan to renounce Russia’s oil and gas.
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Source: korrespondent
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