Storage Refills Excite European Market Bulls

摘要

Tighter supply and depleted storage will likely support European natural gas prices this summer.That should in turn ensure the region remains an attractive destination for spot LNG imports and avert the cargo cancellations seen last year after tanking prices made US exports uneconomic.The big question is whether Russia tries to compete head on with LNG imports or is willing to cede market share to keep regional prices high.Falling indigenous production will add to Europe's need to keep importing piped gas and LNG,with the new dynamics contributing to a more volatile market and"support for a positive outlook for prices,"Equinor CEO Anders Opedal said on a recent earnings call.