TTF prices fall through Henry Hub
We published a blog last week on a potential negative price basis for TTF vs Henry Hub. A week later and its here. TTF prices across Summer 2020 fell below Henry Hub levels this week. European gas prices continued to sell off as large volumes of LNG imports continue to arrive in Europe. In contract US gas prices actually rallied as associated gas production flows are falling with oil production given low crude prices. Large volumes of US export capacity are now being shut in. But cargoes already locked into LNG logistics schedules continue to flow into European hubs, pushing prices lower.