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Asian LNG Demand Following Seasonal Trend Lower

LNG

Asian LNG demand is following the seasonal trend lower to assist strong LNG flows to Europe as the region looks to refill gas storage.

  • Asian demand is similar to the levels seen last year with weaker spot prices potentially helping to support the demand from price sensitive buyers in South Asia.
  • The JKM-TTF spread is today around -0.3$/mmbtu with the June US netback to Europe at 9.1$/mmbtu and above the netback to Asia of 8.05$/mmbtu according to Bloomberg.
    • TTF JUN 23 down -2.9% at 36.44€/MWh
    • JKM Jun 23 down -0.5% at 11.5$/mmbtu
    • JKM-TTF Jun 23 up 0.1$/mmbtu at -0.28$/mmbtu
    • US Natgas JUN 23 down -3.9% at 2.13$/mmbtu


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