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LNG: JKM Facing Continues Pressure This Week: Platts

LNG
Energy BulletsBulletPower BulletsCommodities

JKM, is likely to be under continued pressure in the week to Feb. 21, driven by the potential relaxation of storage targets in Europe that could alleviate competition for cargoes, Platts said

  • JKM fell $1.388/MMBtu on the week to $14.944/MMBtu on Feb. 14, easing back from a 14-month high, Platts said.
  • The market is waiting to see if European governments ease summer storage targets, which would cut the urgency for purchasing cargoes ahead of winter.
  • Market activity among end-users remained suppressed, driven by sufficient inventory levels and elevated prices.
  • Trade flows have remained largely unaffected amid the ongoing US-China tariff dispute, Platts said.
  • The US-NE Asia arbitrage window remains firmly shut, Platts added.
  • China's LNG demand has continued to be bearish as pipeline gas flows cut the need to purchase spot cargoes.
  • Instead, some Chinese national oil companies and second-tier entities have sold several spot cargoes to take advantage of high prices.
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JKM, is likely to be under continued pressure in the week to Feb. 21, driven by the potential relaxation of storage targets in Europe that could alleviate competition for cargoes, Platts said

  • JKM fell $1.388/MMBtu on the week to $14.944/MMBtu on Feb. 14, easing back from a 14-month high, Platts said.
  • The market is waiting to see if European governments ease summer storage targets, which would cut the urgency for purchasing cargoes ahead of winter.
  • Market activity among end-users remained suppressed, driven by sufficient inventory levels and elevated prices.
  • Trade flows have remained largely unaffected amid the ongoing US-China tariff dispute, Platts said.
  • The US-NE Asia arbitrage window remains firmly shut, Platts added.
  • China's LNG demand has continued to be bearish as pipeline gas flows cut the need to purchase spot cargoes.
  • Instead, some Chinese national oil companies and second-tier entities have sold several spot cargoes to take advantage of high prices.