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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.
LNG
The return to above normal temperatures in NW Europe this week has taken further pressure off winter European LNG imports supplies. Total EU sendout has declined from 481mcm/d during the colder weather and higher demand early last week down to 426mcm/d over the weekend. NW Europe sendout is down from 280mcm/d to 252mcm/d but remains above 2022 levels.
- Europe's LNG imports are expected to drop from 12.49m tonnes in Jan to 10.49m tonnes in Feb while China’s imports are expected to fall from 6.12m tonnes to 4.47m tonnes according to Kpler data. Lower prices have however sparked the interest of price sensitive buyers from South Asian while Japan and South Korea also increased imports in January compared to December.
- The March US netback to Europe is down to at 12.75$/mmbtu while the US netback to Asia is 13.99$/mmbtu according to Bloomberg. The coming summer months are currently encouraging US flows to Europe over Asia.
- TTF MAR 23 down -2.8% at 52.41€/MWh
- NBP MAR 23 down -3.3% at 130.07p/th
- JKM Mar 23 up 0.7% at 17.99$/mmbtu
- JKM-TTF Mar 23 up 0.6$/mmbtu at 1.54$/mmbtu
- US Natgas MAR 23 down -2.3% at 2.46$/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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