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LNG: West Aus Cyclone Bullish for JKM But Bearish Macro Dominant: Platts

LNG
APACJapanAustraliaCommoditiesEnergy BulletsBulletPower Bullets

LNG loading disruptions from Western Australia due to category 5 Tropical Cyclone Zelia are bullish for JKM because Japanese importers will seek short-notice replacement cargoes, Platts said.

  • The spot market is already tight, and cold weather will cut gas inventories.
  • However, price support from cyclone-related delays is offset by the broader energy complex’s weakening following US-Russia talks.
  • LNG terminals facing potential disruption include North West Shelf, Pluto, Gorgon, Wheatstone, and Prelude.
  • Loadings at Pilbara coast terminals have been delayed since Feb. 12; at least 12 LNG carriers are circling at sea to avoid storm damage, Platts said.
  • Japan is sensitive to even a few days of delays in LNG loadings amid low storage capacity.
  • JERA, imposed fuel restrictions at 1.785 GW of gas-fired units at the Joetsu plant until Feb. 23 - around 3% of Japan's total gas-fired power generation
  • Joetsu regularly imports from Wheatstone and Gorgon, Platts said.

 

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LNG loading disruptions from Western Australia due to category 5 Tropical Cyclone Zelia are bullish for JKM because Japanese importers will seek short-notice replacement cargoes, Platts said.

  • The spot market is already tight, and cold weather will cut gas inventories.
  • However, price support from cyclone-related delays is offset by the broader energy complex’s weakening following US-Russia talks.
  • LNG terminals facing potential disruption include North West Shelf, Pluto, Gorgon, Wheatstone, and Prelude.
  • Loadings at Pilbara coast terminals have been delayed since Feb. 12; at least 12 LNG carriers are circling at sea to avoid storm damage, Platts said.
  • Japan is sensitive to even a few days of delays in LNG loadings amid low storage capacity.
  • JERA, imposed fuel restrictions at 1.785 GW of gas-fired units at the Joetsu plant until Feb. 23 - around 3% of Japan's total gas-fired power generation
  • Joetsu regularly imports from Wheatstone and Gorgon, Platts said.

 

Keep reading...Show less