08 April 2024

PPA and GPA Pricing Update 8th April 2024

Green Gas and PPA markets traded in a stable range this morning after the long weekend. NBP gas changed slightly at Thursday’s close despite data released late last week showing significantly lower LNG flows to Europe.

March LNG import data to Europe showed a 20% decline year on year. However, in the Asian markets, we witnessed a promising trend as trade increased due to the attraction of lower gas pricing, sparking buying interest.

Chinese LNG imports were up nearly 24% in March, while in India, the increase was closer to 30%.

Shenzhen Energy and China Gas have been widely seen in the market, securing summer volumes.

Any flexible trading house will be looking at how best to optimise LNG positions, and at the moment, that means moving cargo from Europe to Asia.

On a more bearish note, European gas storage is at 60% full levels compared to the rolling 5-year average of 42% for this point in the year. This is well ahead of injection forecasts.

PPA pricing continues to be led by gas and movements in the broader commodity markets.

If you want to see Green Gas or PPA pricing, please call the desk or email Fran or myself.

PPA Manager

Jamie Banks
PPA Manager at New Stream