CleanTechnica•about 1 month ago
International LNG Prices Rise Amid Strait of Hormuz Closure
Key Takeaway
The closure of the Strait of Hormuz has significantly increased international LNG prices, leading to higher fuel costs and potential electricity price volatility for gas-fired power generation outside the US.
AI Summary
- •The Strait of Hormuz closure on February 28th has caused international LNG prices to diverge from US prices.
- •European (TTF) LNG futures prices have risen to $14.80 per million British thermal units (MMBtu).
- •This indicates significantly higher fuel costs for gas-fired power generation in Europe and Asia, impacting operational expenses for developers and IPPs utilizing CCGT or simple-cycle plants.
Topics
ccgtsimple-cycle
Article Content
Prices for natural gas in Europe and Asia have diverged from those in the United States since the February 28 closure of the Strait of Hormuz. Futures prices for liquified natural gas (LNG) delivery to the Title Transfer Facility (TTF), the European benchmark price, increased to $14.80 per million British thermal ... [continued] The post International LNG Prices Rise Amid Strait of Hormuz Closure appeared first on CleanTechnica .