Gas Hub Prices & Market Commentary – March 2

Daily review of natural gas prices – Henry Hub, JKM, TTF – and key market events

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Gas Prices at the hubs:

Henry Hub
Day change: $0.062, up 2.2% | Settle: $2.839 | March 2021

TTF
Day change: $0.069, down 1.2% | Settle: $5.618 | March 2021

JKM
Day change: $0.050, down 0.8% | Settle: $5.875 | April 2021

PipeChina is reportedly enforcing pre-conditions on shippers that are seeking 3rd-party access to LNG terminals, potentially stifling spot purchases down the road.

The pre-conditions would require spot purchases to be bundled with cargoes that originate from 3-state-owned oil companies’ historical long-term contracts.

The mandates to buy long-term cargoes that could come with terminal access would likely force shippers to inevitably pay for oil price-linked LNG, per Platts.

Nyet-netural LNG, but soon? Gazprom hopes to join the carbon-neutral LNG club after announcing that it aims to deliver its 1st carbon-neutral cargo to Europe in the “nearest future”

Cheniere Energy announced that it intends to begin supplying feed gas to Sabine Pass Train 6 by year-end 2021, with plans to begin commercial loadings in 1H-2022.

The IEA says that global CO2 emissions have returned to pre-pandemic levels while adding that emissions in Dec-2020 were 2% higher than a year prior.

Source: Tellurian

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