Natural gas
Overview
Natural gas has been fuelling industrial and economic growth across developed and developing countries. Its usage is set to increase as it is also being considered as a low-carbon fuel that can help make the transition to a no-to-low-carbon economy. Argus is your irreplaceable source of price information, news, expert analysis and fundamentals data for international natural gas markets.
Whether you need access to key gas prices and indexes, expert commentary on all the latest industry developments, or market data to aid your business planning, we give you the information you need and the expert view to understand it.
Latest natural gas news
Browse the latest market moving news on the global natural gas industry.
Balticconnector gas pipe recommissioned after rupture
Balticconnector gas pipe recommissioned after rupture
London, 22 April (Argus) — The Finland-Estonia Balticconnector gas pipeline has been re-commissioned, with commercial flows starting at the beginning of today's gas day. There were renominations for 12.5GWh of flows towards Finland and 78.2GWh in the opposite direction for today as of early afternoon, suggesting net flows towards Estonia of around 66GWh. Finnish demand remains relatively low, while stocks at Finland's Inkoo LNG terminal need to be mostly depleted before the upcoming arrival of a new cargo on 26 April. The Balticconnector was taken off line on 8 October following a rupture caused by a dragging anchor . The system operators of Finland and Estonia said at the time that the pipeline could return in April at the earliest, meaning the initial timeline set out for repairs has been met. The recommissioning of the Balticconnector could allow Finnish prices to realign with those in the Baltic markets now that the two areas are connected again. During the Balticconnector's absence, Finland was entirely reliant on LNG deliveries to Inkoo, meaning prices were highly volatile and frequently held significantly above prices further south. Price differentials reached a peak of nearly €58/MWh ($62/MWh) in mid-January as a cold snap caused Finnish power-sector gas demand to soar while stocks at Inkoo were relatively low. That said, the basis between the two markets has narrowed significantly since mid-March, and the Finnish price has on several days held lower than in the Baltics ( see graph ). By Brendan A'Hearn Finnish vs Estonian-Latvian prices Oct 2023-present €/MWh Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australia's QPM to focus on gas, cut Tech battery spend
Australia's QPM to focus on gas, cut Tech battery spend
Sydney, 22 April (Argus) — Australian battery metals refiner Queensland Pacific Metals (QPM) will focus on energy markets via its Moranbah gas project (MGP) and limit further expenditure on its Townsville Energy Chemicals Hub (Tech) project. The firm will switch its prioritisation to its wholly-owned QPM Energy (QPME) business, with QPME's chief executive David Wrench to be appointed as QPM chief executive, the company said on 22 April. MGP's coal mine waste gas output from nearby the coal mining hub of Moranbah in Queensland's Bowen basin will be increased to 35 TJ/d (935,000 m³/d) by late 2024, up from October-December 2023's 28 TJ/d, with QPME to accelerate production and reserves to provide required peaking power for the national electricity market (NEM) via Thai-controlled energy firm Ratch Australia's 242MW Townsville Power Station. QPME aims to drill a further seven wells by the year's end, increase workovers and increase production from third-party supply of waste mine gas from regional coal mines. The company is also seeking to develop a portfolio of plants to supply up to 300MW of gas-fired power to the NEM, while compressed natural gas and micro-LNG facilities will also be developed in Townsville and Moranbah, QPME said. A surge in government support for renewable power generation in order to meet Australia's 2030 emissions target by retiring coal-fired power means more gas-peaking plants will likely be needed in the coming years to support variable generators. But Australia's domestic gas supply is forecast to experience shortfalls this decade, with predictions of a 76 PJ/yr gap in 2028. The Tech project which aims to produce 16,000 t/yr of nickel and 1,750 t/yr of cobalt sulphates from imported laterite ore saw its funding significantly reduced in February because of what QPM described as a "challenging investment environment" resulting from depressed nickel prices. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Swap operations could unlock Brazil’s RNG
Swap operations could unlock Brazil’s RNG
Sao Paulo, 15 April (Argus) — Brazil needs to increase liquidity and establish taxation to let gas swap contracts unlock constraints on biomethane trade, industry observers said. Gas swap operations are commercial exchanges of products between traders in different regions that do not have a way to physically deliver. For example, a biomethane plant in one region could sell to a consumer in a different, unconnected region if it is able to get that transaction mirrored in its own region — creating a "swap" of products without the need of delivery away from the local pipelines. This mechanism could cut logistics costs for biomethane delivery and provide a way around the single largest hurdle to Brazilian biomethane market growth — a lack of connections between the biomethane plants scattered across the country and potential customers in major cities. The main challenges for swaps in the biomethane sector are the lack of gas market liquidity to find mirror transactions in different regions and the fiscal challenge of properly taxing the operations, according to Maria Fernanda Soares, partner at the Machado Meyer law firm. "Unlocking the tax challenge would be a better way to make this type of transaction viable, because it would be an alternative to the regulatory prohibition of injecting gas into the distribution network," she said. Biomethane certificates attesting to its renewable attributes can also lessen logistical challenges, as buying a certificate substitutes the need for the physical delivery. "Today, everyone in the sector believes there is a need for certification to advance so that biomethane has an environmental validation," said Marcelo Mendonça, strategy and market director for natural gas distributors' association Abegas. "Otherwise, you are just buying a more expensive natural gas molecule." But biomethane certificates will not be enough to create liquidity between regions, said Soares: "Many companies tend to prefer buying their biomethane with the certificates included, so there would be difficulty in having enough surplus." Under a draft of a so-called fuel of the future bill , Brazil would create a biomethane mandate with the option of using guarantees of origin to fulfill obligations. The bill still awaits senate approval. By Rebecca Gompertz Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Central Petroleum signs Australian NT gas supply deal
Central Petroleum signs Australian NT gas supply deal
Sydney, 12 April (Argus) — Australian independent Central Petroleum has announced a gas supply agreement with Northern Territory (NT) government-owned utility Power and Water Corporation (PWC) to the end of 2024. The Mereenie gas project will supply 8.6PJ (230mn m³) to PWC, which is struggling for supplies from Italian energy firm Eni's Blacktip field offshore the NT that supplies the NT's gas-fired power generation and to private-sector customers, Central said on 12 April. The lack of oversupply in the NT, Australia's smallest jurisdiction by population, means insufficient flows exist to operate the Jemena-operated 90 TJ/d (2.4mn m³/d) Northern gas pipeline linking the NT and Queensland state. Mereenie has effectively curtailed production by 10-15 TJ/d, Central said, but it expects tail gas from Australian independent Santos' offshore Bayu-Undan field to fall in the coming months, enabling Mereenie to increase supplies. Bayu-Undan exported its final cargo through the 3.7mn t/yr Darwin LNG (DLNG) late last year , ahead of preparatory works for backfill through Santos' delayed Barossa project that is currently 70pc complete. DLNG was supplying about 25-35 TJ/d to domestic customers in the NT last month from the depleting Bayu-Undan. A unit of Australia's Macquarie Bank owns 50pc of Mereenie in the NT's onshore Amadeus basin, with operator Central holding 25pc, while 17.5pc is controlled by upstream firm New Zealand Oil and Gas and the remaining 7.5pc by domestic independent Cue Energy. Blacktip started production in 2009 and has an agreement with PWC for an initial 23 PJ/yr, increasing to 37 PJ/yr or nearly 750PJ across its production life of 25 years, which means it should produce up until 2034. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
A year on: The TTF returns from the stratosphere
Europe can breathe a sigh of relief on the one-year anniversary of the greatest price spike in the history of European gas trading.
Insight paperSummer 2023 Preview: European Natural Gas and Global LNG
Following a year of upheaval and extreme volatility in the global gas markets, prices are falling as the northern hemisphere’s winter draws to a close.
Explore our Natural gas products
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
Latest events
