OIES Podcast – Impact of Russia-Ukraine War on Energy Markets Series – 8

In this latest OIES podcast James Henderson and Mike Fulwood discuss the latest consequences of Russia’s invasion of Ukraine on energy markets. They consider the impact of the latest cut-offs of supply to Finland, Denmark and the Netherlands and discuss recent price movements in Europe and the UK, as well as the growing differential between delivered LNG prices in Europe and the TTF price. They also review flows of pipeline gas and LNG into Europe, in particular looking at a recent reduction in flows through Ukraine and the potential for increased flows from Algeria. They then discuss the impact of European issues on global markets, reviewing recent price movements in Asia and especially in the US, where the Henry Hub price has increased sharply over the past week. Finally, they consider the potential for gas availability issues this winter, looking a recent concerns in the UK over possible rationing and also reviewing storage injections in Europe and the likelihood of EU storage targets being met.