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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.
NATURAL GAS
Total European LNG sendout has increased back up to over 400mcm/d this week from a low of just below 370mcm/d on 10 June with supply concerns eased by the return of Hammerfest LNG export terminal yesterday. Loading of tankers will start when sufficient volume is reached in the tanks according to a spokesperson yesterday.
- TTF has again spiked higher this morning to over 44.5€/MWh driven by tighter market concerns and short covering but has since settled back although still 10% up on the day.
- Total European sendout is about 14% down from the levels seen in May but the decline is in line with the expected seasonal trend with NW Europe net import flows still above the previous five year average. (see chart below)
- A total of about 33 tankers have arrived into northwest European terminals this month with another 18 currently scheduled before the end of the month.
- US LNG exports are this week at the lowest of the year to date due to ongoing Sabine Pass LNG export terminal maintenance.
- Works at Montoir LNG are preventing ship arrivals until 18 June while sendout is expected to be capped until 2 July and Dragon LNG is also undergoing a one day maintenance outage today.
- Wilhelmshaven LNG terminal in Germany halted regas capacities late on Wednesday amid an unplanned plant shutdown with the outage expected to end this morning.
- TTF JUL 23 up 9.8% at 42.05€/MWh
- TTF WIN 23 up 7.1% at 56.78€/MWh
- TTF SUM 24 up 6.1% at 55.01€/MWh
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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