MNI China Press Digest March 14: PBOC, SSE, USD Products

MNI China Daily Summary: Thursday, March 13

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LNG: Seventh LNG Vessel Diverts for Europe

LNG
Energy BulletsBulletPower BulletsCommodities

 A seventh vessel has diverted in the Atlantic this month from Asia towards Europe driven by higher prices. 

  • The Flex Constellation, carrying an LNG cargo from the US, diverted toward Europe on Tuesday.
  • The JKM/TFU spread remains firmly in negative territory.
  • Japanese utilities continue to stockpile LNG, with inventories hitting 2.32m MT on Friday, up 10% from a week earlier. Should demand remain lacklustre, this could see them offering cargoes on spot market, softening the spread to TTF further.
  • Weather forecasts are trending lower, which would be neutral for the basis Barukh Abadi at ICAP notes.
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 A seventh vessel has diverted in the Atlantic this month from Asia towards Europe driven by higher prices. 

  • The Flex Constellation, carrying an LNG cargo from the US, diverted toward Europe on Tuesday.
  • The JKM/TFU spread remains firmly in negative territory.
  • Japanese utilities continue to stockpile LNG, with inventories hitting 2.32m MT on Friday, up 10% from a week earlier. Should demand remain lacklustre, this could see them offering cargoes on spot market, softening the spread to TTF further.
  • Weather forecasts are trending lower, which would be neutral for the basis Barukh Abadi at ICAP notes.