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UK gas price surge amid Australian LNG facility strike uncertainty

Wholesale gas prices in the Netherlands and the UK have shown a noticeable rise on Monday, with markets remaining on edge due to ongoing speculation about potential strikes at Australian liquefied natural gas (LNG) facilities.

According to Refinitiv data, in the UK, the within-day gas price surged by 5 pence to 84.50 pence per therm and the day-ahead contract rose by 6.50 pence to 84 pence per therm.

The front-month Dutch contract saw an increase of €0.10 euros (£0.08) to reach €36.05 (£31) per megawatt-hour (MWh) by 09:20 (GMT), while the Dutch day-ahead contract went up by €1.72 (£1.4) to €33.42 (£28.7)/MWh.

Amidst this uncertainty, consultancy firm Auxilione noted that ongoing talks and contingency planning to mitigate the export impact if the strikes materialise are keeping the markets tense.

Energy Live News
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This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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