Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

Gas prices fall in EU amid climate instability, supply risks

  • By Al Mayadeen English
  • Source: Agencies
  • 19 Jun 2023 19:19
3 Min Read

Prompted by maintenance at Norwegian gas facilities, prices still remain 15% higher this month.

  • x
  • People walk past a board indicating the prices of petrol and diesel fuel at a Shell petrol station, in Manchester, U.K., March 8, 2022. (AFP)
    People walk past a board indicating the prices of petrol and diesel fuel at a Shell petrol station, in Manchester, U.K., March 8, 2022. (AFP)

Amid general market instability related to supply risks and hot weather, gas prices in the EU witnessed a drop on Monday after a spike last week.

At the Title Transfer Facility (TTF) hub in the Netherlands, July futures plunged by 13.8% and the benchmark Dutch front-month contract dropped to €30.18 per megawatt-hour (MWh) or $346.39 per 1,000 cubic meters.

However, prompted by maintenance at Norwegian gas facilities, prices remain 15% higher this month.

The previous rise in prices was a result of fear that the hot climate in Europe and unexpected power outages in Norway would create an increased demand for liquefied natural gas (LNG) and put supplies at risk.

There are generally five factors to consider in the fluctuation of demand and supply of natural gas, starting with seasonality, consumption patterns, the price of competing fuel-based energy sources, global events, and EIA reports. 

Short-term demand for cooling in households and businesses may arise due to the warmer weather, but long-term risks are still valid for the supply of the next heating season.  

Related News

Netherlands launches $58mln fund in quest to recruit top researchers

University of Amsterdam halts student exchange with Israeli university

Read next: Desperate EU tries to replace Russian gas with Azerbaijan’s

Complications for traders

Analysts at Engie’s EnergyScan said in a statement that “until EU gas stocks are full, European day-ahead and month-ahead gas prices have significant upside potential, which is reflective of competition between uses: current demand, mainly from power generators, versus storage injection demand”. 

The analysts further explain that the current gas market instability has “highlighted complications for traders” while the energy crisis is still being assessed as to whether it is still extreme enough to continue importing additional LNG shipments this summer.

According to Gas Infrastructure Europe, EU gas storage facilities are almost full at 74%.

In related news, Germany's Economy Minister Robert Habeck warned last week that Europe's largest economy could end up shutting down industrial production if Ukraine's agreement with Russia to transit gas to Europe is not extended.

The gas transit deal, which is set to expire at the end of 2024, is still a main source of energy for countries such as Italy, Austria, Hungary, and Slovakia, and remains a source of revenue for Kiev, which earns transfer fees by allowing gas passage through its territory.

Read more: OPEC+ prepares to discuss further output cuts ahead of June 4 meeting

  • The Netherlands
  • LNG
  • Europe
  • gas
  • Gas prices
  • Norway

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS