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LNG
The spot price of LNG in North Asia is continuing to soften amid strong supplies from exporters and indication that winter demand is easing.
- The spot price of JKM was $9.60/MMBtu Feb. 2, up slightly from $9.50/MMBtu on the week, nearing a 7-month low.
- Spot prices are bucking the usual trend of rising during the winter before declining in the shoulder season.
- January’s LNG imports were up 11.8% on the year, while December’s were a record of 26.49m mt, according to Kpler.
- Australian LNG imports hit a record high in December at 7.22m mt. Jan shipments were 7.08m mt, up 2.3% on the year.
- Qatar also saw record shipments in Jan at 7.58m mt.
- The US also had record shipments in Dec at 8.55m mt, with Jan at the second-highest level at 8.07m mt
Source: Reuters
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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