Latest news with #TitleTransferFacility
Reuters
17-07-2025
- Business
- Reuters
Gas use falls to fresh lows in Europe's main gas trading hub
LITTLETON, Colorado, July 17 (Reuters) - Gas-fired electricity production has dropped to record lows in the home country of Europe's largest gas-trading hub, dealing a fresh blow to natural gas bulls who eye Europe as a key growth market for sales of LNG and pipelined gas supplies. The Title Transfer Facility in the Netherlands establishes the main benchmark natural gas price for most of Europe, and the Netherlands' extensive pipeline networks and central location give it insight into gas supply and demand trends. The Netherlands itself has historically been a heavy gas consumer, and from 2000 to 2020 relied on natural gas for well over half of its utility electricity supplies, according to energy thinktank Ember. However, since Russia's invasion of Ukraine in 2022, Dutch utilities have aggressively slashed natural gas use, and over the first half of 2025 gas power plants supplied only a third of the country's electricity. For major natural gas producers and exporters such as the United States, Russia and Qatar, the rapid and sustained cuts to gas use by a formerly integral gas consumer are cause for alarm, as it may herald further cuts for Europe as a whole. Despite its relatively small size and population, the Netherlands wields considerable influence regionally and globally. The country's massive port facilities around Rotterdam are the main entry and exit points for crude oil, refined products, crops and many consumer goods into and out of Europe. The Netherlands is also home to a large high-tech industry and several multi-national corporations which rely on the country's strong infrastructure and global connections. The country's strategic importance is reflected in the status of the Dutch government, which is highly influential within the European parliament and plays a key role in shaping regional policies on trade, agriculture and finance. Dutch utilities have also been leaders in adopting clean energy supplies, despite once being home of the headquarters of oil and gas major Shell (SHEL.L), opens new tab. Between 2022 and 2024, electricity production from clean power supplies jumped by 27% in the Netherlands compared to a 16% rise in clean power output within the European Union over the same period, Ember data shows. That outsized growth was driven by a 57% jump in wind power and a 34% rise in solar power electricity generation. That aggressive increase in renewable energy sources in turn changed the balance of the country's electricity generation mix. Until 2023, the country was primarily powered by fossil fuels, but since then clean energy sources have become the primary fuels for electricity generation and so far in 2025 have generated 57% of the country's electricity. Despite the switches, electricity supplies scaled record highs in 2024 to ensure that the country's electricity output kept up with demand needs. Wholesale power prices in the Netherlands have also remained competitive within Europe as the Dutch power system cut back on gas use and added clean power output, and so far in 2025 have averaged slightly less than those of Germany. Over the first half of 2025, Dutch wholesale spot power prices have averaged around 90 euros per megawatt hour, according to LSEG. That price is roughly a third more than those in nuclear-powered France, but is lower than the average prices recorded in several other European nations including Italy and most of Eastern Europe. The fact that Dutch power costs have remained in line with the regional average despite sustained reductions to fossil fuel use in electricity generation will likely influence the energy planning of other nations in the region. The successful transition from fossil fuels being the main pillar of the country's electricity system until 2022 to a more minor role in 2025 could be seen as a blueprint for other utility networks also keen to cut back on fossil fuel use. And given the country's prowess in rolling out clean energy supplies, Dutch firms with expertise in offshore wind, solar systems and batteries are collaborating with other regional utilities to lift clean power output in other countries. Dutch firms are also pioneering the deployment of green energy to produce green hydrogen, which regional industries are hoping will help decarbonise their power needs and further reduce regional reliance on fossil fuels. All together, the Netherlands has generated strong momentum in its clean-energy push, which looks liable to extend well beyond its national borders and could result in further Europe-wide cuts to gas consumption in the years ahead. The opinions expressed here are those of the author, a columnist for Reuters. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, opens new tab and X, opens new tab.
Business Insider
15-07-2025
- Business
- Business Insider
Deutsche downgrades Venture Global on valuation into earnings
Deutsche Bank downgraded Venture Global (VG) to Hold from Buy with a price target of $17, up from $13.50. The firm cites valuation for the downgrade ahead of the company's Q2 results with the shares near the new price target Venture Global's longer term valuation is challenged by the lack of liquidity in the Title Transfer Facility curve as well as the company's spending on the Calcasieu Pass 2 development, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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Business Standard
14-06-2025
- Business
- Business Standard
Analysts see crude at $150 on panic buying if Israel-Iran tensions escalate
Brent crude oil prices can hit $150 a barrel (bbl) – up a massive 103 per cent from the current levels – in the worst-case scenario if Israel–Iran geopolitical tensions escalate, suggest analysts. However, if the conflict stays contained, then energy markets will re-adjust quickly. Israeli airstrikes on Iran last week had impacted energy prices with crude and natural gas prices surging as it reignited concerns about a wider conflict in West Asia. Brent crude oil prices hit $78.5/bbl in the wake of the airstrikes before dropping back to around $75/bbl. TTF (Title Transfer Facility) gas prices – a virtual trading point for natural gas in the Netherlands – surged over 5 per cent to €38.24/MWh last week in the backdrop of the developments. The attacks, according to analysts at Rabobank International, expose the wider risks to crude and natural gas supplies from the region despite the initial quick reversal of price gains for both markets. If crude, refined products and/or liquid natural gas (LNG) supplies from key producers like Saudi Arabia, the UAE, and Qatar are curtailed through direct attacks on energy infrastructure or the closure of the Strait of Hormuz, crude oil price spikes could break and sustain above the $120/bbl mark, they said. 'In case Saudi oil, gas, shipping, or refining infrastructure are targeted and destroyed, crude prices would rise above $120/bbl, even as far as $150/bbl on the initial panic buying," wrote Michael Every, global strategist at Rabobank International in a co-authored note with Joe DeLaura and Florence Schmit. Crude oil price spike Iran, meanwhile, has claimed dominion over the Strait of Hormuz, which is a major chokepoint central to the global energy market. The Strait is a transit point for 17 per cent of world oil flows (about 17 million barrels per day) and convoys of tankers from Kuwait, Iraq, Bahrain and Saudi Arabia. Qatar, Oman and the UAE operate around 98 million tons of LNG export capacity, about 18 per cent of the world's LNG supply, with most of these volumes also transiting through the Strait, reports suggest. 'Another 10 per cent rise in oil is possible due to ongoing war. Post that, it may cool off if conflict moderates due to international pressures. In case war intensifies and goes on for few months, then oil price may hit $100/bbl,' said G Chokkalingam, founder and head of research at Equinomics Research. The threat of around 1.5m barrels per day (b/d) of Russian supply going dark through sanctions during the initial stages of the invasion of Ukraine by Russia had sent Brent prices to $139/bbl three years ago, but only for about a week, and prices stayed above $100/bbl for only five months, data shows. According to Platts OPEC Survey, Iran pumped 3.25 million b/d of crude in May, with roughly 2.2 million b/d of refining capacity and 600,000 b/d of condensate splitting capacity. However, exports dipped below 1.5 million b/d in May as floating storage levels surged amid rising tensions. 'If Iranian crude exports are now disrupted, Chinese refiners, the sole buyers of Iranian barrels—would need to seek alternative grades from other Middle Eastern countries and Russian crudes. This could also boost freight rates and tanker insurance premiums, narrow the Brent-Dubai spread, and hurt refinery margins, particularly in Asia,' cautions Richard Joswick, head of near-term oil analysis at S&P Global Commodity Insights.
Yahoo
02-06-2025
- Business
- Yahoo
US LNG output declines in May from April's record
By Curtis Williams HOUSTON (Reuters) -U.S. liquefied natural gas output fell in May due to plant outages and maintenance at the country's largest export facility, preliminary LSEG ship tracking data show. The U.S. is the world's largest LNG exporter and monthly changes in production can impact global LNG prices. In May the U.S. exported 8.9 million metric tons of LNG, down from a record 9.3 MT in April, according to LSEG data. During May all U.S. plants experienced short periods of lower output when compared to April, the LSEG data showed, and Cheniere Energy confirmed that its 30 MT per annum (mtpa) Sabine Pass facility in Texas, the biggest in the nation, was undergoing maintenance work. Gas flows to Sabine have held at a 23-month low of around 3.1 bcfd since May 31. That compares with an average of 4.3 bcfd over the prior seven days. Freeport LNG, the U.S.' third largest LNG producer, also reported several outages. Europe remained the favored market for U.S. LNG exports as traders tried to take advantage of higher prices in Europe for the superchilled gas when compared to Asia. Gas prices at the European benchmark Title Transfer Facility (TTF) in the Netherlands rose to $11.68 per million British thermal units (mmBtu) in May, up from $11.48 in April and an average of $10.12 in May 2024. Of the 8.9 MT of LNG exported from the U.S., 6.05 MT or 68% went to Europe, the same percentage as in April, LSEG data showed. Exports to Asia remained relatively low with 1.88 MT or 21% of total exports, compared to 2.05 MT or 22% of total exports in April, LSEG data showed. Stronger domestic production, pipeline imports, renewable generation and weak industrial demand have kept Chinese demand muted and China, the world's largest LNG user, continues to resell U.S. LNG to avoid paying retaliatory tariffs as the trade dispute continues between the world's two largest economies. Prices at the Asian benchmark Japan Korea Marker (JKM) slid to $11.83 per mmBtu in May, down from $12.23 in April but up from an average of $11.10 in May 2024. Exports to Latin America also fell with .66 MT sold in May compared to .68 MT in April. Egypt bought 3 cargoes for a total of .22 MT, while Bahrain bought one cargo for .07 MT. One cargo also left Cheniere's Sabine Pass plant on May 23, but as of Monday was in the Caribbean Sea with no clear destination, LSEG ship tracking data showed. The United States is poised to remain the world's largest LNG exporter with an expected 6 projects getting the financial go ahead in 2025, adding another 90 million metric tons per annum (mtpa) of LNG to the U.S. output by 2030. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Bloomberg
02-04-2025
- Business
- Bloomberg
Europe LNG Demand Is So Hot That Cargoes Land at Wider Discounts
It's getting cheaper to bring a shipment of liquefied natural gas into Europe because of heightening competition between terminals to accommodate extra cargoes. The delivered price of LNG for northwest Europe widened its discount to the continental benchmark Title Transfer Facility in recent weeks, according to data from Spark Commodities Pte Ltd. The price difference was as much as minus 71.5 cents last week, according to the data.
