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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 supplies to Europe reduced late last week as warm weather helps to keep demand well below normal and as spreads encourage spot flows to Asia over Europe.
- Bad weather has disrupted LNG vessel arrivals at Milford Haven, UK since the start of the year. Maintenance works are also limiting regasification capacity at the Klaipėda LNG terminal in Lithuania until 15 Jan.
- The resumption of LNG shipments from Prelude LNG export facility in Australia may be further delayed after tripping on restart following a fire last month.
- Net LNG imports flows to NW Europe have declined to the lowest since the end of October from a peak of 336mcm/d in mid December down to 199mcm/d on 7 Jan.
- A decline in the Asia JKM price with warm weather in Japan has reduced the JKM-TTF spread slightly but it remains positive. The US LNG netback to Europe is today estimated at 17.74$/mmbtu compared to 22.22$/mmbtu to Asia.
- TTF FEB 23 down -1.9% at 72.9€/MWh
- NBP FEB 23 down -2% at 180p/th
- JKM Feb 23 down -2.7% at 27.68$/mmbtu
- JKM-TTF Feb 23 down -0.2$/mmbtu at 4.62$/mmbtu
- US Natgas FEB 23 down -3.2% at 3.79$/mmbtu
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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