Heard on the Street: Storage levels of natural gas look rather thin globally, while prices have surged. A cold winter in parts of the world could send prices even higher.
Natural gas could really use an OPEC-style, coordinated production ramp-up right now.
Europe’s natural-gas prices typically track lower than those seen in Asia, but they have had to rise to attract flexible liquefied natural-gas cargoes. “On any day, Asia and Europe are neck-and-neck in terms of who offers the best economics,” said Anatol Feygin, chief commercial officer at U.S. LNG exporter Cheniere Energy.is itself behind on stocking up for winter. Data from the U.S. Energy Information Administration show that natural gas in underground storage last week was 7.
Despite the healthy pace of LNG imports this year, Asia and Europe likely need to stock up more to prepare for winter. Non-U.S. LNG exporters haven’t been pitching in as much supply because of various maintenance-related snags.
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