Natural Gas news and market movers: Tensions and supply issues
- Supply issues towards Europe as the Hammerfest Liquefied Natural Gas (LNG) plant in Norway is completely shut down due to a leak, Bloomberg reports. Expectations are for it to remain closed until at least Friday.
- Marco Saalfrank, Head of Continental Europe Merchant Trading and Member of the Management Board of Axpo Solutions AG, said in an interview with Bloomberg that the Gas market is currently sentiment-driven as well, which is increasing volatility as Europe still lacks structural changes to replace the Gas supply from Russia.
- The UK is also facing some issues, with the unforeseen outage of the Elgin Franklin field in the UK North Sea by at least another day.
- US sanctions on Iran’s OIl sector are set to be signed by US President Joe Biden next week after the US Senate passed tougher measures.
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