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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 supplies to Europe remain strong at nearly 480mcm/d on 29 April amid ongoing maintenance at Norwegian fields with muted LNG demand and competition from Asia.
- Net European LNG import flows averaged about 468mcm/d in April up from 416mcm/d in March.
- US netbacks to Europe are holding above the US netbacks to Asia throughout the forward summer months. The front month JKM-TTF spread is steady around -0.9$/mmbtu.
- Forecasts suggest that the maximum temperature in southern China are likely to be near normal over the coming fortnight suggesting little potential for early summer cooling demand in the region according to Samuel Good at Argus.
- No sizeable shift in cooling power demand is expected from South Korea and Japan despite slightly above-average temperature forecasts due to healthy LNG stocks and more nuclear generation this summer.
- TTF JUN 23 up 0.8% at 38.83€/MWh
- JKM May 23 down -0.4% at 11.55$/mmbtu
- JKM-TTF Jun 23 down -0.1$/mmbtu at -0.9$/mmbtu
- US Natgas JUN 23 down -2.6% at 2.35$/mmbtu
Source: MNI / 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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