EmerioBanque

LNG Market Still Under Risk Of Return To 2022 Conditions: IGU

The prices of Liquified Natural Gas (LNG) have eased from the record high after Russia invaded Ukraine. But the risk of a return to 2022 market condition remains high, the International Gas Union (IGU) said in a report.

The European Union remains strongly reliant on the spot market to secure LNG supplies, with about 70% of its 2022 imports sourced through spot buying 2022, the IGU said in its World LNG Report published on Wednesday. It said this would increase the volatility of European gas prices. 

Buying LNG to replace curtailed Russian flows helped Europe weather the first winter of the Ukraine conflict, with the continent importing 66% more LNG in 2022 than the previous year.

Spot LNG prices hit a record of $70.50 per million British thermal units (mmBtu) in 2022 but have dropped nearly 83% since then. “Prices eased in 2023, but the level of risk and uncertainty remained high; the market is still out of balance, and the crisis isn’t over yet”, Li Yalan, the President of IGU said.

To stay up-to-date with all the trade finance services in the world access the news we update!

Source URL: https://www.reuters.com/business/energy/lng-market-still-faces-elevated-risk-return-2022-conditions-igu-says-2023-07-12/





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

08 Feb

Blockchain's Impact on Trade Finance: Shaping Global Commerce

Trade financing facilitates global commerce but involves antiquated systems reliant on manual paperw...

06 Feb

India's Trade Dynamics Amidst the Red Sea Crisis

As of now, there has been no significant impact on India's exports and imports owing to the crisis i...

31 Jan

Choosing the Right Trade Finance Instrument for Your Business

Understanding Trade FinanceTrade finance facilitates transactions and lowers risks for buyers and se...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.