MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

MNI: UK JAN-MAR MEDIAN PAY AWARDS +4.8% :XpertHR/Brightmine

Brightmine (XpertHR): Pay Deals Fall to 4.8%; Expected 5% for 2024 Overall

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lower Prices Spark Interest in LNG Spot Purchases in India

LNG

Asian LNG prices continue to decline to raise the interest of price sensitive countries such as India. India significantly cut spot LNG purchases last year due to high prices but is gradually increasing interest this year including several purchases this week.

  • Gail purchased three LNG cargoes on a DES basis for delivery to the Dabhol terminal between March and May at around the 13$/mmbtu range. The price was the lowest paid by India since summer 2021 according to Bloomberg sources.
  • In a tender from 20 Feb Gujarat State Petroleum Corp purchased an LNG cargo for delivery in 2H March to 1H April at around 14$/mmbtu.
  • India’s Torrent Power Ltd., Indian Oil Corp. and Bharat Petroleum Corp. are all showing interest in cargo availability according to Bloomberg.
  • The increasing competition for the global supplies is helping support European and Asian gas prices.
    • TTF MAR 23 down -1.6% at 49.76€/MWh
    • JKM Mar 23 up 0.4% at 14.36$/mmbtu
    • JKM-TTF Mar 23 up 0.2$/mmbtu at -1.1$/mmbtu
BulletEnergy BulletsHomepageCommodities
BulletEnergy BulletsHomepageCommodities

To read the full story

Close

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.