commodity prices

LNG spot volatility and European price formation | 04 Feb, 2013

A rapid expansion in Australian, African and US liquefaction capacity may drive global gas price convergence later this decade.  But the global gas m ...

UK spark spreads – light at the end of the tunnel? | 28 Jan, 2013

The UK forward power market is in an interesting state of flux.  It is difficult to price a commodity which has a value so heavily influenced by gove ...

An integrated transatlantic seasonal gas storage market? | 07 Jan, 2013

European seasonal gas price spreads have been crushed over the last 5 years, falling towards 1 €/MWh.   New sources of flexible supply, subdued de ...

US Gas Production – More Than Just a Local Affair | 10 Dec, 2012

This week’s article is the Timera Energy Blog's inaugural Guest Post written by Howard Rogers, the Director of Natural Gas Research at the Oxford In ...

US LNG export contracts: a European buyer’s perspective | 26 Nov, 2012

The US has 12 regasification terminals (a combined 196 bcma of import capacity) that currently stand largely idle.  These terminals are testament to ...

A commodity market perspective in 3 charts | 29 Oct, 2012

One of the themes of this blog has been the increasing importance of global commodity markets in driving pricing and value in European power and gas m ...

Will the renewed flow of LNG into Europe continue? | 01 Oct, 2012

Q3 2012 has seen a rapid rise in the volume of LNG cargoes flowing back into North West Europe.   This has been driven by a significant re-convergen ...

Building LNG supply chain value | 24 Sep, 2012

The influence of LNG in Europe is increasing A slump in Asian LNG prices since June this year has driven a steady flow of spot LNG cargoes back into ...

Intervention and commodity markets | 17 Sep, 2012

For the last 12 months, the dominant price trend in European power and gas markets has been downwards as global commodity prices have declined and Eur ...

Asian LNG prices head south | 23 Jul, 2012

Two months can be a long time in the global gas market.  In May Japanese buyers drove Asian spot LNG prices above $18/MMBtu as they competed to hedge ...

RWE: Anatomy of a gas portfolio | 16 Jul, 2012

The gap between gas hub and oil indexed contract prices has been a key factor driving the evolution of the European gas market over the last five year ...

Global gas price snapshot July 2012 | 09 Jul, 2012

Every six months we have been reviewing developments in global gas market pricing dynamics.   Since we last did this in January, factors driving reg ...

Coal prices heading south | 02 Jul, 2012

There is currently a strong focus across global commodity markets on the European debt crisis as a key driver of price movements.  This is unsurprisi ...

Five key drivers of global LNG market evolution | 18 Jun, 2012

The global LNG market is entering a period of rapid expansion.  The volume of global liquefaction capacity is set to double over the next decade, req ...

China’s influence on global LNG demand | 14 May, 2012

It is difficult to develop a view on the evolution of the global LNG market over the next decade without a clear understanding of Chinese demand.  Ch ...

A tough spread environment | 05 Mar, 2012

The requirement for investment in generation capacity is a key theme across European power markets this decade.  Investment in renewable capacity is ...

Will US LNG exports revolutionise the global gas market? | 13 Feb, 2012

In the middle of the last decade the US was faced with declining domestic production and the prospect of increasing reliance on LNG imports to meet de ...

European gas pricing developments in the global context | 23 Jan, 2012

In August last year we set out some of the key dynamics driving European gas market pricing.  While these drivers remain, there have been some inte ...

Will the eurozone survive 2012? | 03 Jan, 2012

Europe faces an existential crisis in 2012.  Credit market stress in response to ballooning sovereign debt levels has forced governments to announce ...

Timera Energy’s 2011 review | 12 Dec, 2011

A year in review The season of long lunches, last minute shopping and visits from the in-laws is upon us again.  As a result this will be our last p ...

The downside risks to energy markets have intensified | 10 Oct, 2011

Will 2011 be a turning point for global energy markets? 2011 has been dominated by concerns about the impact of tightness in global energy markets on ...

The debt crisis and European energy markets: a new episode | 05 Sep, 2011

The start of a new episode August, usually a relatively calm month of empty meeting rooms and summer vacations, was this year marked by a sharp incre ...

Bleeding value from residual foreign exchange risk | 15 Aug, 2011

The Achilles heel of foreign exchange management The dangers of foreign exchange risk are well understood in energy markets given the prevalence of c ...

Exchange rate impacts on European power and gas markets | 25 Jul, 2011

We explored the broad impact of asset correlations and exchange rate movements on European energy markets in an article last week. As well as the ‘m ...

The debt crisis and European energy markets | 18 Jul, 2011

Global financial markets are increasingly influencing European energy markets Two years ago a speaker at Flame, the annual European gas industry con ...