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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 net import flows to Europe have increased over the last week boosted by the cooler weather and higher heating demand. Gas spreads are holding steady with the front month and summer JKM-TTF spreads trading near flat.
- Asia LNG prices have found some support recently with increased interest from price sensitive South Asian buyers. JKM is holding below 15$/mmbtu having been just below 30$/mmbtu at the start of the year.
- The April US netback to Europe is at 11.05$/mmbtu compared to the netback to Asia at 10.43$/mmbtu. Netbacks from the US for the remaining summer months are approximately 0.5$/mmbtu higher to Europe than Asia.
- LNG net import flows to Europe have increased to 489mcm/d on 24 Feb from 401mcm/d on 19 Feb.
- Vessel tracking shows about 67 arrivals to NW European terminals in Feb compared to 79 in Jan and 90 in Dec. NW Europe is currently expecting about 24 cargoes to arrive at terminals in the coming couple of weeks.
- TTF APR 23 up 1.5% at 47.36€/MWh
- NBP APR 23 up 2.1% at 118p/th
- JKM Apr 23 down -2.2% at 14.63$/mmbtu
- JKM-TTF Apr 23 down -0.6$/mmbtu at -0.2$/mmbtu
- US Natgas APR 23 down -0.6% at 2.73$/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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