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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.
LNG
LNG spot prices were subdued by increasing supply in Dec despite rising LNG imports according to Reuters. LNG imports to Asia rose to a record 26.61m metric tons in December from 23.35m tons in November but set against higher global supplies according to Kpler data.
- US LNG exports are more profitable to Asia for the balance of winter with February at 9.03$/mmbtu compared to 7.32$/mmbtu to Europe. The US netbacks are also showing a small premium to Asia over Europe in the summer months according to BNEF.
- The front month JKM-TTF spread is today near the lowest since October at around +1.0$/mmbtu but with the forward curves showing JKM at a premium to TTF throughout the coming year.
- TTF FEB 24 down -8.3% at 31.68€/MWh
- NBP FEB 24 down -9.3% at 78.94p/th
- JKM Feb 24 down -14.2% at 11.14$/mmbtu
- JKM-TTF Feb 24 up 0.2$/mmbtu at 1.03$/mmbtu
- US Natgas FEB 24 down -3.9% at 2.78$/mmbtu
Source: Reuters
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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