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.
LNG
The disruption to Red Sea LNG shipping has increased with the pausing of Qatar LNG transits to add to the decline seen during early January.
- Only five laden LNG tankers passed through the Suez Canal in Jan 1-12 and all were either from Qatar or Russia according to ICIS. The number of crossings in December was approximately in line with normal and supported by strong US flows to Asia.
- Three tankers carrying LNG to Europe have paused off the coast of Oman having earlier signalled transit through the Suez Canal. The tankers were possibly delivering long-term supply to Italy or Poland or making a spot delivery to Qatar’s UK terminal position according to ICIS.
- An empty ship returning to Qatar has also halted in the Red Sea and another in the Mediterranean Sea near the Suez Canal.
- The global gas prices have seen little impact with no changes to actual supplies and limited competition for LNG due to the milder winter so far and high inventories in Asia and Europe.
- TTF FEB 24 down -5.2% at 30.32€/MWh
- NBP FEB 24 down -5.7% at 75.4p/th
- JKM Feb 24 down -10.2% at 10.7$/mmbtu
- JKM-TTF Feb 24 down -0.8$/mmbtu at 0.95$/mmbtu
- US Natgas FEB 24 down -5.2% at 3.14$/mmbtu
Source: ICIS
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