The Northeast Asian assessed spot LNG price JKM for last week (15 July – 19 July) rose to low-USD 12s on 19 July from high-USD 11s the previous weekend (12 July). JKM rose to low-USD 12s in the middle of the week followed by the active deals for summer demand, but then it fell due to ample supply and inventory. METI announced on 17 July that Japan’s LNG inventories for power generation as of 14 July stood at 2.20 million tonnes, up 0.21 million tonnes from the previous week. The European gas price TTF for last week (15 July – 19 July) rose to USD 10.3/MBtu on 19 July from USD 10.1/MBtu the pre ..read more

The Northeast Asian assessed spot LNG price JKM for last week (8 July – 12 July) fell to high-USD 11s on 12 July from low-USD 12s the previous weekend (5 July). JKM fell to high-USD 11s in the middle of the week due to ample supply, but then rose as lower price stimulated demand. METI announced on 10 July that Japan’s LNG inventories for power generation as of 7 July stood at 1.98 million tonnes, down 0.12 million tonnes from the previous week. The European gas price TTF for last week (8 July – 12 July) fell to USD 10.1/MBtu on 12 July from USD 10.4/MBtu the previous weekend (5 July). The dema ..read more

The Northeast Asian assessed spot LNG price JKM for last week (1 July – 5 July) fell to low-USD 12s on 5 July from mid-USD 12s the previous weekend (28 June). JKM was on a downward trend due to low demand, as Japan and South Korea have already procured the required number of cargoes for the summer season, while India’s electricity demand has been significantly reduced by the monsoon. METI announced on 3 July that Japan’s LNG inventories for power generation as of 30 June stood at 2.09 million tonnes, up 0.02 million tonnes from the previous week. The European gas price TTF for last week (1 Jul ..read more

Global LNG supply dropped in Q2 2024 for the first time since covid, amid growing feedgas supply issues at legacy producers and unplanned outages in Australia and the US. Global LNG supply contracted by around 0.5% yoy in Q2 2024, which in turn tightened market fundamentals and provided upward pressure on gas prices both in Europe and Asia. The key driver behind lower LNG availability is the worsening feedgas supply issues at legacy producers: (1) in Egypt domestic production plummeted by almost 15% yoy Jan-Apr, forcing the country to switch from LNG exports to imports; (2) in Nigeria security ..read more

The Northeast Asian assessed spot LNG price JKM for last week (24 June – 28 June) fell slightly to mid-USD 12s on 28 June from high-USD 12s the previous weekend (21 June). In the first half of the week, JKM was on an upward trend due to buying interest on the back of forecast higher summer temperatures in the East Asia region, but then fell to mid-USD 12s due to stable supply and weak demand. METI announced on 27 June that Japan’s LNG inventories for power generation as of 23 June stood at 2.08 million tonnes, down 0.06 million tonnes from the previous week. The European gas price TTF for last ..read more

Gas prices continued to strengthen across all key gas regions in June, reflecting tighter market fundamentals. In the US, Henry Hub jumped by 20% month-on-month to average at $2.5/mmbtu -which is close to the average breakeven cost of US gas producers. production cuts, together with strong gas-fired powgen (up by 5% yoy) and higher exports provided upward pressure on gas prices. In contrast, in Canada there is no relief from oversupply and high storage levels, with AECO prices plunging by 36% month-on-month to an average of just $0.6/mmbtu and guess what, this is not even the cheapest gas… in ..read more

Global LNG FID activity remained strong in H1 2024, although no project took FID in the U.S., reflecting the regulatory uncertainty following the permitting pause. The US was the single most important driving force behind global LNG supply growth, accounting for just over half of LNG capacity sanctioned through 2013-2023. In contrast, no US LNG project reached FID so far this year, reflecting the regulatory uncertainty following the export permitting pause. this in turns allows non US LNG developers to advance more actively their projects. In total, over 40 bcm/y of LNG capacity was sanctioned ..read more

The Northeast Asian assessed spot LNG price JKM for last week (17 June – 21 June) fell to mid-USD 12s on 21 June from high-USD 12s the previous weekend (14 June). After falling to mid-USD 12s at the beginning of the week, due to the sentiment by high prices of the previous week and a slowdown in buying interest along with Hari Raya Haji, demand for August cargoes arose and the price went up modestly. METI announced on 19 June that Japan’s LNG inventories for power generation as of 16 June stood at 2.14 million tonnes, up 0.04 million tonnes from the previous week. The European gas price TTF fo ..read more

The US Federal Energy Regulatory Commission (FERC) has just reviewed Cheniere’s plan to expand its Corpus Christi LNG facility in Texas. They found that the proposed expansion, which includes two new liquefaction trains, would not significantly impact the environment. The expansion aims to add 3 million metric tons per year of LNG capacity. Construction and operation of the project will produce emissions, but FERC staff stated they cannot determine the exact environmental impact of these emissions. FERC is accepting public comments on this environmental assessment until July 22. Cheniere hopes ..read more

The European Commission will review the EU’s ban on Russian LNG transhipments on the bloc’s territory by June 2025 at the latest, and constantly monitor LNG flows, markets and prices until then. It will also monitor the EU’s competitiveness and the share of Russian LNG in the bloc’s total energy imports, according to its 14th sanctions package against Russia published in its Official Journal late on Monday. The ban adopted by the EU Council of ministers yesterday was unlikely to impact EU supply but would increase Russia’s costs to ship LNG to markets in Asia by blocking the route via Europe ..read more