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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.
LNG
Asian LNG prices have fallen to the lowest since mid June prompting some interest from more price sensitive customers in emerging markets and China according to Bloomberg.
- Spot prices fell to a low of $9.8/mmbtu on Jan 9 amid healthy gas inventories across North Asia and with threat of winter cold reducing with a warm weather forecast in Jan. Bearish European prices are also weighing on prices amid reduced global competition for supplies.
- Prices could find some support with interest from buyers in India and Thailand for February while Chinese buyers have purchased 6-8 cargoes for end-January to early-March delivery at $9.60-$10.60/mmBtu.
- Above seasonal normal temperatures are forecast in China and the Korean peninsula from Jan. 9-17 according to Bloomberg.
- Available spot supply is high from suppliers in Papua New Guinea, Australia, Angola and Oman.
- Global LNG exports are near a record high driven by the US which has become the biggest global exporter for the first time at 91.2m metric tons in 2023. Australia was the second biggest exporter with Qatar in third after an output drop of 1.9% in 2023 y/y.
- TTF FEB 24 up 0.7% at 30.87€/MWh
- JKM Feb 24 down -10.6% at 10.87$/mmbtu
- JKM-TTF Feb 24 down 0$/mmbtu at 0.93$/mmbtu
Source: Bloomberg
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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