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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
Total LNG imports into NW Europe in August were little changed at 53 cargoes compared to 52 in July according to Bloomberg ship tracking data.
- Northwest Europe is currently scheduled to receive another 21 cargoes in the next couple of weeks. The region has already seen four cargoes arrive so far in September with all originating from the US.
- LNG sendout to Europe is holding steady this week at about 325mcm/d on 3 Sep and still just below levels seen this time last year. Sendout to NW Europe is around 190mcm/d compared to around 220mcm/d at the start of Sep 2022.
- The front month JKM-TTF spread is near the top of the recent range at +2.3$/mmbtu. US LNG gas exports are still more profitable to Asia in October at 9.26$/mmbtu compared to 7.19$/mmbtu to Europe. US netbacks for November and December are relatively similar between Asia and Europe in Nov and Dec, according to BNEF before the TTF open this morning.
- TTF OCT 23 up 1.4% at 34.03€/MWh
- NBP OCT 23 up 0.9% at 81.97p/th
- JKM Oct 23 up 0.2% at 13.01$/mmbtu
- JKM-TTF Oct 23 down -0.1$/mmbtu at 2.3$/mmbtu
- US Natgas OCT 23 down -6.1% at 2.6$/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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