# Global Gas Markets Ease as Traders Handle Papua Outage; Winter Demand Drops - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Global LNG prices eased in early March 2018 as the market absorbed an earthquake-related outage at ExxonMobil's Papua New Guinea export facility, which declared force majeure. Asia spot LNG was about $8.50/mmBtu, down from $8.80 the prior week, as Northern Hemisphere demand fell into spring.

- Date: 2018-03-09 · published 2018-03-09T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/66179-global-gas-markets-ease-as-traders-handle-papua-outage-winter-demand-drops
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

The outage removed supply for weeks, but seasonal demand decline is outweighing it, so near-term gas prices are softening. Lower gas prices reduce the cost of gas-based fertilizer and ethanol inputs.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2019-08-06 | [Natural Gas Nears $2 Amid Work on Largest U.S. Export Terminal - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57755-natural-gas-nears-2-amid-work-on-largest-u-s-export-terminal-energy-news-top.md) | +5.5% | +16.1% |
| NATGAS | 2022-06-14 | [Months-Long Freeport LNG Outage Roils Gas Markets  \| Energy Intelligence](https://feedsoft.ai/events/6804-months-long-freeport-lng-outage-roils-gas-markets-energy-intelligence.md) | -23.8% | -24.1% |
| NATGAS | 2022-06-14 | [News of lengthy Freeport LNG terminal outage hits NYMEX gas futures](https://feedsoft.ai/events/6798-news-of-lengthy-freeport-lng-terminal-outage-hits-nymex-gas-futures.md) | -23.8% | -24.1% |
| NATGAS | 2023-02-22 | [Freeport LNG outage showed growing connection of US supply, global gas market](https://feedsoft.ai/events/37520-freeport-lng-outage-showed-growing-connection-of-us-supply-global-gas-market.md) | +25.0% | +1.5% |
| NATGAS | 2019-08-02 | [Up-and-Down Week for Natural Gas Markets as Weekly Spot Prices Mixed](https://feedsoft.ai/events/7903-up-and-down-week-for-natural-gas-markets-as-weekly-spot-prices-mixed.md) | -6.6% | +2.1% |

## Sources

- energynow.com: https://energynow.com/2018/03/global-gas-markets-ease-as-traders-handle-papua-outage-winter-demand-drops/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.