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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.
LNG
LNG supplies into Europe remain steady with North Asia spot prices falling with weak Chinese LNG demand and stocks high despite the cold weather. Chinese importers are trying to divert February and March shipments to Europe according to Bloomberg.
- The Feb JKM-TTF spread is back down to 3.3$/mmbtu after a fall in the JKM price although the TTF fall yesterday has pushed the March US netback in favour of Asia. The US netback to Europe for March is estimated at 13.77$/mmbtu compared to the US netback to Asia at 15.34$/mmbtu. The netbacks for the summer months are near parity but with Asia just above Europe.
- LNG supplies into NW Europe average around 400mcm/d in the week to 14 Jan with sendout into NW Europe at approximately 235mcm/d and around the same level seen at this time last year. Record European LNG import flows of 529mcm/d were seen during the cold weather early in December.
- Around 24 LNG further shipments are expected to arrive from US this month after 15 have already arrived and compared to a total of 46 from the US in December. In total another 38 cargoes are expected into NW European LNG terminals this month.
Source: MNI / 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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