NYC-based PIRA Energy believes that Argentina is beginning its LNG weaning process.
A more favorable domestic gas production growth outlook in Argentina could put LNG demand at or near its peak this year, with the outlook for next year beginning to trend down slightly, assuming normal weather in the peak buying months of May through July, PIRA said.
Italy Shifts Its Imports; Germany Plays a Role
Germany is buying Russian gas at a rate of 97-mmcm/d so far this year, but another 70-90-mmcm/d of Russian gas is transiting the country en route to somewhere else. It would be interesting if one of those destinations is Italy via Germany. Looking at the Italian gas numbers this month, imports via Passo Gries on the Swiss border have surged to 54-mmcm/d, which is an unprecedented level of flow for any time of year, yet alone the second lowest demand period of the year, according to PIRA’s weekly gas report.
Romanian Government Delay Natural Gas Deregulation
The Romanian parliament’s lower house on Wednesday postponed planned deregulation of household gas prices by two and a half years to July 2021 aiming to support consumers in the European Union’s second-poorest state. Romania is deregulating its power and gas markets in stages for households and industrial consumers under a plan agreed two years ago linked to an aid deal led by the International Monetary Fund and the European Commission.