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JKM-TTF Spread Wider Despite Record JKM

LNG

Asia gas price discount to Europe widens despite increasing JKM prices.

  • JKM front month reached a record 57.6$/mmbtu on Friday but surging TTF prices due to fears for Russian supplies to Europe have pushed the TTF spread to JKM out to 26$/mmbtu.
  • With ever increasing uncertainty over pipeline supply from Russia, Europe is trying to source alternative supplies. European LNG imports have increased back above 200mcm/d after drifting lower to 190mcm last week.
  • Deliveries from 14 more LNG tankers are expected into NW European terminals from today to the end of the month.
  • TTF SEP 22 up 16.3% at 284.45€/MWh
  • TTF WIN 22 up 16.4% at 288.2€/MWh
  • TTF SUM 23 up 19.4% at 270€/MWh

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