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JKM Extends Gains on Demand to Fill Storage

LNG

Asian LNG price extending gains to a five month high on demand for spot cargoes as countries attempt to fill storage ahead of the winter.

  • North Asian JKM spot LNG price reached 71.25$/mmbtu on Monday, the highest since March.
  • With both Europe and Asia looking for LNG supplies the global competition for cargoes remains strong.
  • European TTF price fell 19% yesterday and down 6% today easing some of the pressure on global markets. The front month JKM-TTF spreads is today down to -4.9$/mmbtu.
  • TTF SEP 22 down -6.1% at 256€/MWh
  • JKM Sep 22 up 2.6% at 70.57$/mmbtu

Source: Bloomberg

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