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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
LNG sendout to NW Europe and Iberia dipped late last week from the highs seen earlier in the week which were driven by heating and power generation gas demand. Total European sendout was back down to around 390mcm/d over the weekend from a peak of just below 510mcm/d on Jan 9 according to Bloomberg.
- LNG deliveries to Europe and Turkey increased 37% last week to a five-month high of 3.8bcm according to Kpler data via Montel.
- Imports are expected to fall to around 3.4bcm this week with cold weather giving way to slightly milder conditions in the week ahead.
- European imports of LNG so far in Jan are 9% down from the same period in December to 7bcm.
- A total of 30 LNG cargoes had arrived into NW Europe by Jan 12 according to Bloomberg with another 26 scheduled before the end of the month. Total arrivals during December were 74 cargoes.
- LNG in storage was 48% full on Jan 13 and down three percentage points week on week according to GIE.
- The profitability of exporting US LNG to both Europe and Asia continues to reduce with Panama Canal delays still favouring Europe and offsetting the JKM price premium according to Spark data.
- TTF FEB 24 down -6.8% at 29.82€/MWh
- NBP FEB 24 down -7.2% at 74.2p/th
- JKM Feb 24 down -11.6% at 10.53$/mmbtu
- JKM-TTF Feb 24 down -0.8$/mmbtu at 0.99$/mmbtu
- US Natgas FEB 24 down -6.2% at 3.11$/mmbtu
Source: MNI / 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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