Bloomberg: EU Gas Prices Prone to Declines on LNG Supplies, Vattenfall Says

European natural gas will probably extend declines as lower prices for the liquefied fuel in Asia, the biggest buying region, mean more cargoes head to Europe, according to Vattenfall AB, the Nordic region’s largest utility.

Gas prices in the Netherlands, Europe’s second-biggest traded market, will probably fall further as LNG supplies increase, according to Frank van Doorn, head of gas trading at Vattenfall Energy Trading Netherlands NV. European LNG supplies will rise by 17 percent this year as converging global gas prices discourage reloading of cargoes for other markets, estimates Paris-based lender Societe Generale SA.

“There could be more downside,” Van Doorn of Vattenfall, the Netherlands’s largest retail gas supplier, said Wednesday in an interview at the European Gas Conference in Vienna. “What we can see is that there could be a lot more LNG coming to Europe, and we can already see the first signs of that. That, of course, changes the supply-and-demand balance.”
MORE