- The European Union wants a new transaction-based benchmark for liquefied natural gas (LNG) as it says the fall in Russian pipeline gas flows and record high LNG imports have created imbalances in the current pricing mechanism.
- The TTF price has been buffeted by geopolitics and sentiment as much as supply and demand factors and some industry sources argue it can no longer define the real value of LNG in Europe, particularly with the rise of imports into the region this year.
- LNG imports into Europe have reached a record high this year as governments scramble to find alternatives to Russian gas, which if phased out completely would require 200 million tonnes of LNG to be shipped in over the next decade, analysts estimate.
EU wants ‘new transactions-based LNG benchmark’ in bid to calm prices
