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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 deliveries to Europe and Turkey rose more than 12% last week to nearly a ten month high of 4bcm according Montel citing Kpler ship-tracking data.
- Imports are however forecast to fall this week back to 3.1bcm amid healthy supplies and warmer weather.
- December so far has seen a month on month increase of 9% to 6.1bcm with demand in the region supported by the cold weather during the first week of the month.
- European LNG sendout eased lower late last week back to 337mcm/d on Dec 9 compared to a recent high of nearly 500mcm/d on Dec 5 which was the highest since late April. Sendout averaged just under 500mcm/d in the first half of December last year.
- US LNG exports are currently more profitable to Asia in Q1 according to BNEF with 8.43$/mmbtu to Europe for Jan and 12.45$/mmbtu to Asia. The front month JKM-TTF spread is trading at the highest since January around 3.7$/mmbtu.
- LNG at sea for at least 20 days has increased slightly in recent days to hold just above the previous five year range having seen a steady decline since early November.
- TTF JAN 24 down -6.9% at 35.95€/MWh
- JKM JAN 24 down -0.2% at 15.07$/mmbtu
- JKM-TTF JAN 24 up 0.9$/mmbtu at 3.65$/mmbtu
- US Natgas JAN 24 down -7.9% at 2.38$/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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