Free Trial
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.
NATURAL GAS
Gas spreads move further in favour of flows to Europe as Asia LNG prices continue to slide despite increased interest from Asian buyers.
- The April US netback to Europe is at 12.12$/mmbtu but the netback to Asia has fallen in recent days down to 10.64$/mmbtu. Higher netbacks to Europe than Asia this summer should help encourage the required supplies to restock storage.
- The front month JKM-TTF spread has fallen to the lowest since mid December at -1.6$/mmbtu.
- Price sensitive buyers are showing increasing interest in LNG spot supplies with India this week buying LNG at the lowest price since summer 2021.
- LNG net import flows to Europe have edged slightly higher up to 437mcm/d on 21 Feb up from 401mcm/d on 19 Feb.
- Vessel tracking shows 50 arrivals to NW European terminals so far in Feb with another 14 expected compared to 79 in Jan. All Angola’s LNG exports since November have headed to Europe with none to previous destinations such as India, Pakistan, and Singapore.
- TTF MAR 23 up 1.6% at 51.4€/MWh
- NBP MAR 23 up 2.1% at 128p/th
- JKM Mar 23 up 0.4% at 14.36$/mmbtu
- JKM-TTF Mar 23 down -0.3$/mmbtu at -1.6$/mmbtu
- US Natgas MAR 23 up 4.7% at 2.28$/mmbtu
Source: 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok