LNG: Potential LNG Gateways to East Europe: Argus
Nov-13 18:25
Turkey’s LNG regasification capacity far exceeds Greece’s, but its rising domestic demand and closed market limit export potential, Argus highlighted.
- Turkey operates five LNG terminals — three FSRUs and two onshore — with a total sendout capacity of 625 TWh/y, over four times Greece’s 148 TWh/y.
- Yet, exports to Bulgaria remain modest, with 18.8 TWh delivered in 2024.
- Although Turkish officials claim capacity could rise sharply, Botas’ dominance and a lack of market transparency deter traders.
- Greece, by contrast, offers a more open market and expanding infrastructure, though grid congestion constrains gas flows.
- The Revithoussa terminal supplied only 18.2 TWh in 2024 despite large spare capacity, while Alexandroupolis suffered maintenance issues.
- Northward export potential is limited by bottlenecks at Amfitriti and other points, capping flows at about 1.4 bcm/y.
- Nevertheless, investment in new compressors and interconnections could strengthen Greece’s role as a regional gas hub, especially as Bulgaria develops its northbound transport capacity.
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EURGBP TECHS: Monitoring Support Around The 50-Day EMA
Oct-14 18:00
- RES 4: 0.8835 High May 3 2023
- RES 3: 0.8800 Round number resistance
- RES 2: 0.8769 High Jul 28 and the bull trigger
- RES 1: 0.8725/8751 High Oct 10 / High Sep 25
- PRICE: 0.8718 @ 17:09 BST Oct 14
- SUP 1: 0.8675/8656 50-day EMA / Low Aug 10
- SUP 2: 0.8633 Low Sep 15
- SUP 3: 0.8597 Low Aug 14 and key support
- SUP 4: 0.8562 50.0% retracement May 29 - Jul 28 upleg
The latest bear leg in EURGBP appears corrective and trend signals remain bullish. Note that the cross has pierced support around the 50-day EMA, at 0.8675. A continuation lower and a clear breach of this EMA would signal scope for a deeper retracement towards 0.8633, the Sep 15 low. Key trend support lies at 0.8597, the Aug 14 low. On the upside, key resistance and the bull trigger is unchanged at 0.8769, the Jul 28 high.
SOFR OPTIONS: BLOCK: Dec'25
Oct-14 17:59
- 25,000 0QZ5 98.00 call spds, 1.25 net ref 97.035 at 1349:45ET, total volume on day at 105,000.
PIPELINE: Corporate Bond Update: $10B Goldman Sachs 5Pt Launched
Oct-14 17:52
- Date $MM Issuer (Priced *, Launch #)
- 10/14 $10B #Goldman Sachs $2.5B 4NC3 +67, $500M 4NC3 SOFR+92, $3B 6NC2 +77, $500M 6NC5 SOFR+108, $3.5B 11NC10 +92
- 10/14 $600M *KEB Hana Bank $300M 3Y SOFR+60, $300M 5Y +43
- 10/14 $3.2B Terawulf 5NC2 investor calls
