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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 base case outlook for Asian spot LNG and European gas prices remains moderately bearish due to healthy gas storage levels in Europe and North Asia by the end of winter according to Bloomberg.
- Gas demand growth in mainland China is the biggest uncertainty for the global market for the upcoming summer. Over the weekend China announced a modest growth target for 2023 at the low end of expectations and a greater role of coal for power generation.
- Beijing Gas purchased the first spot LNG cargo since summer 2021 for April delivery in the high 13$/mmbtu range according to Bloomberg sources. This adds to an increase in interest from price sensitive Asian buyers so far this year.
- China is expected to lead LNG demand growth in the summer, with a forecast of a 17% year-on-year increase according to Bloomberg as the country recovers following covid restrictions.
- Global demand for LNG could rise by just 1% this summer assuming 10-year average weather. Lower demand from Japan and Korea could offset the China increase.
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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