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European LNG Imports Dip Amidst Milder Weather and Depressed Demand

European LNG Imports Dip Amidst Milder Weather and Depressed Demand
blog image
Maritime

European LNG Imports Dip Amidst Milder Weather and Depressed Demand

Europe's liquefied natural gas (LNG) imports for December reached 7.04 million metric tons by December 18, representing 64% of the November level, with France, the UK, and Turkey leading in volumes. The US supplied 51% of the total, while Russia and Algeria contributed 13% and 7%, respectively. Milder temperatures across Europe, reducing heating sector demand, have led to a quiet trading atmosphere towards the end of the year. The DES Northwest Europe Marker for January decreased to $9.763/MMBtu on December 15, reflecting a bearish outlook influenced by full gas storages and weak economic conditions. European gas storage levels were at 88.84% full as of December 16, with sources suggesting comfortable stocking for the winter season. Recessionary pressures and a weak economic outlook contribute to the bearish sentiment, with limited interest expected until April and a relatively flat structure for the rest of winter.




SOURCE:GOOGLE


20 Dec 23
blog image
Maritime

European LNG Imports Dip Amidst Milder Weather and Depressed Demand

Europe's liquefied natural gas (LNG) imports for December reached 7.04 million metric tons by December 18, representing 64% of the November level, with France, the UK, and Turkey leading in volumes. The US supplied 51% of the total, while Russia and Algeria contributed 13% and 7%, respectively. Milder temperatures across Europe, reducing heating sector demand, have led to a quiet trading atmosphere towards the end of the year. The DES Northwest Europe Marker for January decreased to $9.763/MMBtu on December 15, reflecting a bearish outlook influenced by full gas storages and weak economic conditions. European gas storage levels were at 88.84% full as of December 16, with sources suggesting comfortable stocking for the winter season. Recessionary pressures and a weak economic outlook contribute to the bearish sentiment, with limited interest expected until April and a relatively flat structure for the rest of winter.




SOURCE:GOOGLE


20 Dec 23
blog image
Maritime

European LNG Imports Dip Amidst Milder Weather and Depressed Demand

Europe's liquefied natural gas (LNG) imports for December reached 7.04 million metric tons by December 18, representing 64% of the November level, with France, the UK, and Turkey leading in volumes. The US supplied 51% of the total, while Russia and Algeria contributed 13% and 7%, respectively. Milder temperatures across Europe, reducing heating sector demand, have led to a quiet trading atmosphere towards the end of the year. The DES Northwest Europe Marker for January decreased to $9.763/MMBtu on December 15, reflecting a bearish outlook influenced by full gas storages and weak economic conditions. European gas storage levels were at 88.84% full as of December 16, with sources suggesting comfortable stocking for the winter season. Recessionary pressures and a weak economic outlook contribute to the bearish sentiment, with limited interest expected until April and a relatively flat structure for the rest of winter.




SOURCE:GOOGLE


20 Dec 23