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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
Spreads still encourage LNG flows to Europe despite lower TTF price.
- TTF traded back below 200€/MWh today in reaction to EU plans to ease the surging energy prices and introduce obligatory electricity demand reductions.
- The JKM-TTF spreads has closed in to -4.2$/mmbtu. The Oct US netback to Europe is estimated at 55.75$/mmbtu and to Asia is 34.42$/mmbtu according to Bloomberg calculations. The spread remains firmly in favour of Europe throughout the Winter 22 season.
- LNG flows into Europe have dipped slightly this week with a fall in flows from NW Europe terminals but the new Dutch terminal at Eemshaven started yesterday to aid supplies.
- A total of 23 cargoes are currently expected to arrive at NW European terminals before the end of the month in addition to the 30 already arrived this month.
- TTF OCT 22 down -5.7% at 202.1€/MWh
- JKM Oct 22 up 0.7% at 53.51$/mmbtu
- JKM-TTF Oct 22 up 4.9$/mmbtu at -4.23$/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.
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