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JKM Drifts on Increased Spot Cargoes


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

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