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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
LNG imports into NW decline in May with a total of 53 cargoes in the month down from 61 in April and 88 in May 2023 according to Bloomberg ship tracking data.
- Deliveries have held near 2020 and 2021 levels for the last three months amid muted demand in Europe.
- A total of 8 LNG cargoes arrived into NW Europe between June 1 - 4 according to Bloomberg with another 15 scheduled to arrive in the coming couple of weeks.
- European LNG sendout remains low at 258cm/d on June 4 and in line with the average seen over the previous week but well below levels seen this time last year. Sendout compares to an average of 281mcm/d throughout May 2024 and around 390mcm/d at the start of June last year.
- The US netback to Europe had risen up towards the level to Asia with the price spike earlier this week but has since fallen back with Asia more profitable for US cargoes for the rest of the year, according to BNEF. The US netback to Asia for July is at $8.72/MMBtu and to Europe is at $7.52/MMBtu.
- TTF Jul 24 down 0.3% at 33.7€/MWh
- JKM Jul 24 down 1.3% at 12.04$/mmbtu
- JKM-TTF Jul 24 down 0$/mmbtu at 1.28$/mmbtu
- US Natgas Jul 24 up 2.6% at 2.65$/mmbtu
Source: Bloomberg / MNI
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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