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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.
LNG
Higher TTF prices have pushed the JKM-TTF spread back out to -19.75$/mmbtu.
- Despite JKM reaching a record weekly average last week prices still come in well below the European benchmark gas price. JKM is still at approximately the same level as the 42.5$/mmbtu weekly record while TTF has pushed back above 200€/MWh.
- The US LNG netback to Europe is up as high as 49.87$/mmbtu while the netback to Asia is 32.05$/mmbtu for September.
- LNG net imports into Europe are still up near 190mcm/d compared to 5-year average levels of below 60mcm/d.
- 53 cargoes arrived in to NW Europe in July compared to 51.5 in June and 19 in July 2021.
- The forward curve shows TTF trading above JKM until the end of 2023.
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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