European gas prices have jumped above the 50 per MWh threshold for the first time since August, sparking fears of a winter supply shortage.
1. ExxonMobil-Pioneer Merger May Spark Further Giant Deals- The largest upstream deal since Shell’s 2015 acquisition of BG for $82 billion, ExxonMobil’s acquisition of Pioneer Natural Resources has become the crown jewel of post-Covid E&P consolidation.
- In Europe itself, the biggest supply disruption might come from the damage of the Finland-Estonia gas interconnector which started leaking after a presumedly deliberate act of sabotage, with repairs potentially taking up to 5 months. - This week’s price rally has fortified Europe’s standing as the premium LNG market with JKM only trading at $14 per mmBtu, $4 mmBtu lower than the European prices currently. 5.
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