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Trevor Sikorski

Trevor Sikorski is the Head of Natural Gas and Carbon Research at Energy Aspects. Trevor has been analysing European energy and environmental markets for more than 15 years, having held senior analytical research roles with Barclays Capital, Point Carbon, Global Insight and PwC. He has an in-depth understanding of the global markets for generation fuels and carbon, including their fundamentals, trading behaviours, and complex interactions. In 2010, he was named the top carbon market analyst by Environmental Finance magazine and was in Commodity Magazine’s commodities research team of the year in 2011. Trevor is frequently featured in leading media outlets, including the Financial Times, BBC News, Reuters, Bloomberg, CNBC, Wall Street Journal, and Sky News.

Auction regulation clarifies innovation fund EUA sales and cancellation rules
- Emissions
- E-mail alert
Published 10 Jul 2019 by
- Trevor Sikorski
Market gets bullish signal from potential retrospective clawback of free EUAs after court ruling
- Emissions
- E-mail alert
Published 9 Jul 2019 by
- Trevor Sikorski
NBP
- Natural Gas
- Europe
- Europe Monthly
- NBP
Published 9 Jul 2019 by
- Trevor Sikorski
- Jane Rangel
Please note that users licensed for the data service can access our UK gas balances by clicking here.After months of incremental LNG sendout in the UK topping 1 bcm, June saw incremental sendout drop sharply to 0.25 bcm. European markets are still looking overwhelmingly bearish. Asian demand is w..
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Autumnal surprise
Published 9 Jul 2019 by
- Trevor Sikorski
Please note that users licensed for the data service can access LNG freight rates by clicking here.With the TTF moving modestly up on a jump in coal prices and some gas supply outages, a muted response from the JKM saw the spreads between the two gas hubs narrow across the curve. That narrowing d..
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Mysterious ways
Published 8 Jul 2019 by
- Trevor Sikorski
- Jane Rangel
- Leyra Fernández Díaz
- Stefan Ulrich
EU gas hubs have finally seen a few bullish fundamentals—rising coal prices, Norwegian gas production cuts, unplanned outages on the Forties Pipeline system—which had otherwise been rare this summer. However, market participants would be wise to remember that the overall picture remains bearish...
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European carbon
- Emissions
- Carbon weekly
Published 8 Jul 2019 by
- Trevor Sikorski
Lignite power plants are increasingly getting priced out of the generation stack, which could weigh on EUA demand this year. We have frequently talked about the coal-to-gas switch, which is occurring because of low prevailing gas prices in the EU, but we had expected less lignite-to-gas switching..
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EU imports
Published 3 Jul 2019 by
- Trevor Sikorski
- Leyra Fernández Díaz
Pipe supply to Europe will need to slow down with LNG imports set to remain robust in Q3 19. We expect a conservative 7.5 bcm of y/y incremental LNG supply to arrive in Europe that quarter. While nominations from the big long-term contract suppliers showed evidence of declining in June, Russian p..
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Why reload?
Published 2 Jul 2019 by
- Trevor Sikorski
Please note that users licensed for the data service can access LNG freight rates by clicking here.With the outlook for the TTF no more constructive than it was last week, the remainder of summer 2019 will be marked by gas hunting for storage capacity to fill. With EU storage filling rapidly, the..
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Odd bedfellows
Published 1 Jul 2019 by
- Trevor Sikorski
- Jane Rangel
- Leyra Fernández Díaz
The market opened with a bounce this morning, but the uptick should not be expected to last, as there is little bullish news on the horizon. Weather forecasts call for an easing of the European heat wave and Europe enters Q3 19 with a massive 24.5 bcm overhang. While our forecast indicates Northw..
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European carbon
- Emissions
- Carbon weekly
Published 1 Jul 2019 by
- Trevor Sikorski
The w/w gains last week appeared to have both technical and fundamental drivers. At the start of June, the market had repeatedly tried to break downside support lines and failed, which was followed by trading for almost two weeks in an ever-narrower band, signalling some sort of breakout would co..
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Crazy high supply
Published 28 Jun 2019 by
- Trevor Sikorski
The extremely high levels of LNG supply into the market continue, though the expected new terminals have yet to make an impact in 2019. While we have often discussed the supply side this year, the much-anticipated new trains have finally started to make an appearance, with Australia’s 3.6 Mtpa Pr..
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Middle East & North Africa
Published 27 Jun 2019 by
- Richard Mallinson
- Trevor Sikorski
LNG imports by countries in the Middle East and North Africa (MENA) rose m/m in May to 0.78 Mt. Imports should average around 1.0 Mt per month over the peak summer period (June–September), but this would still be lower y/y by around 0.3 Mt a month on average. Exports from the region are on the ri..
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South Asia
Published 26 Jun 2019 by
- Trevor Sikorski
- David Seduski
Users licensed for the data service can access our India gas supply and power generation data.South Asia looks set to continue being a healthy source of regional demand growth for the global gas markets, as low gas prices increase the region’s appetite for LNG. May was the second straight month w..
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Global supply trends
Published 26 Jun 2019 by
- Trevor Sikorski
Users licensed for the data service can access our liquefaction database and global balances data.LNG supply continued to post healthy y/y gains of around 4.8 Mt in May, although sequential gains have been hard to come by since the start of the year. While summer numbers will always be moderated..
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Supply conundrum
Published 25 Jun 2019 by
- Trevor Sikorski
Please note that users licensed for the data service can access LNG freight rates by clicking here.Despite summer 2019 marking the start of LNG market oversupply and a period of sustained low pricing, FIDs for new supply are coming fast. The go-ahead on the 4.5 Mtpa Sabine Pass T6 project two wee..
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