Europe Gas Storage Is Now Key for Global Prices, Trafigura Says
- End-winter European storage levels will set LNG rates
- Cold snap would boost competition with Asia for LNG cargoes
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European natural gas storage levels have become a key market indicator, according to Trafigura Group, a top trader of the fuel.
“The amount of gas in storage at the end of the winter will determine how much LNG Europe will buy in the summer, which then sets the global price,” Richard Holtum, global head of gas and power at Trafigura, said on the sidelines of the Gastech conference in Singapore.