Australian regulators released a set of recommendations on gas markets this week, upping the pressure on producers in the east and south of the country.
The recent convergence of regional gas prices has made the need for global LNG pricing benchmarks less pressing.
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Low gas prices in the United States are supporting the appetite for storage injections despite ample stocks. Utilities place gas in storage while prices are low for use during peak demand periods – especially winter, when prices are high. This means it is likely that the US and Canada will fill their storage facilities by the end of the 2016 injection season.