Increased LNG prices, well above levels registered in 2019 and the first half of 2020, promise to bring about market changes, including a decrease in the high level of imports witnessed over the past few months.
LNG prices are currently double those registered at the beginning of this year, reaching 4 dollars per 1000btu from 2 dollars per btu.
The period of lower LNG prices in the market appears to have ended, officials have noted.
This development promises to bring about a pipeline gas resurgence following LNG’s dominance in the Greek market over the past year and a half, driven by record-low price levels.
LNG prices fell to extremely low levels as a result of the market availability of significant shale gas amounts from the US as well as new sources, primarily Australian.
LNG prices now appear to be steadying at higher levels.
The prospect of a pipeline gas rebound is also being helped by a stabilization of oil prices at low levels, containing oil-indexed pipeline gas prices and reinstating the competitiveness of pipeline gas.
The market fluidity caused by the pipeline gas and LNG price shifts has increased the work challenge for gas traders, affecting their ability to make forecasts.