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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
JKM spread to TTF narrows to -2.4$/mmbtu but still suggests flows will continue to Europe with levels wider than in March and April.
- TTF prices have drifted down over the week from 95.5€/MWh to 84.98€/MWh as supplies from Russia steady after the latest monthly gas payments. The halt to Gazprom contracts with GasTerra, Orsted and Shell Energy in Germany have not changed total flows into Europe.
- Northeast Asia prices have held steady as Shanghai eases lockdown measures despite the reappearance of covid cases in the community.
- Strong LNG flows into Europe have helped offset any reduction in flows from Russia as European members look for alternatives to Russian gas.
- Aggregate net flows to NW Europe are still 36% above flows this time last year. Imports have fallen since April but are following the lower seasonal trend during the summer months.
- The graph below shows the weekly average of aggregate net LNG flows to NW Europe:
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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