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NATURAL GAS
The JKM price is steady this week as TTF swings on tight market concerns and ahead of the EU ministers meeting on Friday.
- The Asian LNG JKM front month price has been stable around 55$/mmbtu while spot prices have fallen below $50$/mmbtu on increased spot supplies.
- The US LNG netback for October to Europe is estimated at 59.94$/mmbtu and to Asia at 44.55$/mmbtu. The US netback to Europe is approximately 20$/mmbtu higher than to Asia throughout the Winter 22 period.
- Net LNG imports to NW Europe are still above 200mcm/d with strong supplies helping to balance the missing Nord Stream supply.
- TTF OCT 22 down -1.2% at 237.01€/MWh
- JKM Oct 22 up 0.5% at 54.69$/mmbtu
- JKM-TTF Oct 22 up 1.3$/mmbtu at -13.83$/mmbtu
- NBP OCT 22 up 0.4% at 430p/th
- US Natgas OCT 22 down -0.7% at 8.09$/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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