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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
Taiwan's CPC is seeking 14 cargoes of LNG from May 2023 to March 2024 in a tender closing on March 15 due to worsening drought conditions and lower spot LNG prices according to S&P Global sources.
- JKM front month is today at 14.14$/mmbtu and hovering just above the lows from last week of 13.9$/mmbtu.
- LNG demand is expected to grow amid lower hydropower supply and with a long-term nuclear decommissioning plan. Water reservoirs in southern Taiwan suffered from a severe drought over 2021-22 and precipitation forecasts remain low.
- Natural gas and coal each provide around 40% of Taiwan's electricity generation, with 10% from nuclear and 8% from renewables and the remainder from oil.
- Taiwan's has targets to replace nuclear with natural gas resulting in a power mix by 2025 of 50% natural gas, 30% coal and 20% from renewables according to the energy ministry.
- Power generation accounted for 83.6% of total LNG demand in 2022, up 3.4% year on year.
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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