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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
EU LNG imports have averaged approximately 400mcm/d over the week to Oct 17 as the TTF premium to JKM has narrowed but netbacks still encourage flows to Europe.
- Early this week the front month JKM-TTF spread narrowed to the near parity and closest since May as European supply fears have eased. A TTF recovery in the last two days driven by concerns for cold weather and supply risks has brought the spread back to -5$/mmbtu.
- The US netback to Europe for December has fallen to 31.69$/mmbtu but the netback to Asia has also drifted lower to 20.80$/bbl. The netback to Europe remains at over a 10$/mmbtu throughout the current winter season and should help maintain strong imports.
- TTF NOV 22 up 10% at 123.8€/MWh
- NBP NOV 22 up 19.4% at 218.17p/th
- JKM Nov 22 down -2.4% at 28.98$/mmbtu
- JKM-TTF Nov 22 down -1.7$/mmbtu at -5.38$/mmbtu
- US Natgas NOV 22 up 1.6% at 5.55$/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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