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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Cold weather and supply issues have forced up European hub prices following a mild winter of low prices. The NBP day-ahead increased to roughly 35 p/th ($5.11/MMBtu) on Tuesday – a rise of over 6 p/th since last week and the highest it has been so far this year. Continental hub prices have seen similar rises over the past week, with the TTF up to around 33 p/th on Tuesday.