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LNG: JKM/NWE Spread Narrows to Month Low: Platts

LNG
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Weaker arbitrage opportunities for LNG have been seen amid a narrowed price spread between Asian and European markets, although Asia remains the top importer for 2024 to date, Platts said.

  • The JKM/NWE price spread for November stood at $1.113/MMBtu, the lowest since Aug. 12 when it was 73.7 cents/MMBtu.
  • This is also far narrower than at the same period in 2023 when it stood at $2/MMBtu.
  • While traders told Platts that the arbitrage window opened to the East in the past week, Asia is attracting more LNG cargoes in 2024.
  • Europe imported 73m mt in 2024 to date as of Sep. 25, Platts said, compared to 208m mt to Asia.
  • Platts said the flows to Asia could be driven by lower tanker charter rates, which allows traders to still make a profit with a narrower price spread.

 

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Weaker arbitrage opportunities for LNG have been seen amid a narrowed price spread between Asian and European markets, although Asia remains the top importer for 2024 to date, Platts said.

  • The JKM/NWE price spread for November stood at $1.113/MMBtu, the lowest since Aug. 12 when it was 73.7 cents/MMBtu.
  • This is also far narrower than at the same period in 2023 when it stood at $2/MMBtu.
  • While traders told Platts that the arbitrage window opened to the East in the past week, Asia is attracting more LNG cargoes in 2024.
  • Europe imported 73m mt in 2024 to date as of Sep. 25, Platts said, compared to 208m mt to Asia.
  • Platts said the flows to Asia could be driven by lower tanker charter rates, which allows traders to still make a profit with a narrower price spread.

 

Keep reading...Show less