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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
Front month JKM-TTF spread maintaining just below 20$/mmbtu as TTF hovers just above 200€/MWh today.
- TTF AUG 22 down -0.3% at 204.65€/MWh
- JKM Aug 22 up 7.3% at 43.13$/mmbtu
- US Natgas SEP 22 down -0.2% at 8.54$/mmbtu
- Supply from Russian is stable but low and therefore keeping the strength in European gas relative to other markets.
- TTF prices are well above JKM this year and although the spread closes, TTF remains higher until the end of 2024.
- Both curves are well above US Natgas encouraging strong LNG exports with the flows in favour of Europe. The Sep US netback to Europe is currently 51.46$/mmbtu compared to 32.38$/mmbtu to Asia.
- European net LNG imports are at approximately 196mcm/d compared to the seasonal average of near 60mcm/d.
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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