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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
Spanish LNG reloadings declined month on month in March, as the narrowing spread between the PVB and other European gas hubs limited opportunities for regional arbitrage according to Argus.
- Spanish reloads declined to in March to just 84,000m³ of LNG, the lowest since October.
- PVB day-ahead prices on Spain’s Mibgas exchanged stood at parity to TTF in March, compared with a discount of €0.42/MWh in February and €0.65/MWh in January.
- The PVB May contract closed €0-0.25/MWh above the TTF, ZTP, Peg and NBP on Monday. The PVB May price held an average premium of €1.85/MWh to the PSV on 1-8 April.
- Argus-assessed monthly and quarterly PVB prices for delivery in April-September have moved close to other European hubs, limiting opportunities for regional arbitrage.
- Deliveries of small-size cargoes to Italian terminals from Spain could continue this summer due to the closure of the OLT LNG terminal until October for maintenance.
- Enagas and Edison in 2020 signed an agreement to boost small-scale LNG deliveries in the Mediterranean from Enagas facilities to Edison's customers and the Ravenna terminal, in which both companies hold stakes.
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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