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Asia Gas Surges on Competition for LNG Supplies

LNG

JKM prices surge higher setting new highs as hot weather in the northern hemisphere and tight supply drive competition for global gas supplies.

  • Asian LNG spot prices surge to nearly $60/mmbtu, the highest since early March right after Russia invaded Ukraine.
  • Utilities in Japan, Korea and Taiwan are joining Europe in trying to secure LNG shipments to replenish stocks before winter.
  • The Sep22 JKM swap is now at a record of 56.7$/mmbtu and has closed the spread to TTF in to -11.4$/mmbtu. The US netback to Europe is 57.67$/mmbtu and the netback to Aisa has increased to 45.04$/mmbtu.

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JKM prices surge higher setting new highs as hot weather in the northern hemisphere and tight supply drive competition for global gas supplies.

  • Asian LNG spot prices surge to nearly $60/mmbtu, the highest since early March right after Russia invaded Ukraine.
  • Utilities in Japan, Korea and Taiwan are joining Europe in trying to secure LNG shipments to replenish stocks before winter.
  • The Sep22 JKM swap is now at a record of 56.7$/mmbtu and has closed the spread to TTF in to -11.4$/mmbtu. The US netback to Europe is 57.67$/mmbtu and the netback to Aisa has increased to 45.04$/mmbtu.