Gas Traders Worry Prices Could Plunge After Volatile Winter

  • Nord Stream 2, China demand are among the questions for 2022
  • Export plants come online just as companies chase clean energy
The Nord Stream 2 gas receiving station in Lubmin, Germany, on Nov. 12.Photographer: Krisztian Bocsi/Bloomberg
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It’s been a roller-coaster ride for natural gas this year, with most of the time spent climbing to newer heights.

Spot contracts in Asia and Europe surged to a record, triggering factory closures and bankrupting energy retailers from Singapore to the U.K. Higher prices also meant storage facilities weren’t replenished as much as usual, and now they’re being depleted quickly.