Europe’s (the European Union and the United Kingdom) liquefied natural gas (LNG) imports set an all-time historical record high in April 2022, averaging 16.5 billion cubic feet per day (Bcf/d) monthly and exceeding 19.0 Bcf/d on some days in April. Europe’s LNG imports increased in 2022 because natural gas storage inventories were at historically low […]
The average price of spot LNG cargoes for delivery to Japan contracted in May 2022 and scheduled to be delivered from the month onward (contract-based price) was USD 31.1/MBtu. The average price of spot LNG cargoes that were contracted and delivered to Japan with the month of May 2022 (arrival-based price) was not disclosed. The […]
On fire: a fire broke up at Freeport LNG, the second largest US LNG terminal, accounting for almost 20% of the country’s liquefaction capacity. Fortunately no injuries were reported. fires are amongst the most devastating accidents for liquefaction plants. Prelude FLNG was out for several months, while Hammerfest LNG for almost two years. According to […]
The oil market continued its move higher yesterday, after a fairly constructive inventory report from the EIA. While US commercial crude oil inventories increased by 2.03MMbbls over the last week, when taking into account releases from the strategic petroleum reserve total US crude inventories declined by 5.24MMbbls. Given the strength in the refined products market, […]
In other news, potential LNG projects continue to have supply bought out – China gas has agreed to purchase 700,000 mt of gas per year from Energy Transfer’s Lake Charles facility. Gunvor, ENN NG, and SK Gas all have SPAs currently in place with Lake Charles; this latest agreement brings up the total amount of […]
The Northeast Asian assessed spot LNG price JKM for the previous week (30 May-3 June) followed an upward trend from USD 24/MBtu the previous week to reach USD 25/MBtu on 31 May which linked to the European gas price TTF, while it fell to USD 24/MBtu on 3 June due to weak demand from Asia. […]
How much is the gas? Gas prices remain at historic highs in Europe, at pre-shale records in the US, and hit all-time highs in Australia. In the US, Henry Hub prices average at $8.15/mmbtu, the second highest May prices since Henry Hub started to trade on Nymex. Only in 2008 we had higher May prices. […]
Strong LNG imports across the past few months (heralded by strongly negative JKM/TTF spreads) have helped European gas storage levels recover close to seasonal normal levels. As injection demand eases, the front of the curve (S22-W22) has flipped back into contango. Supply concerns now focus more on this winter. Russia have cancelled gas pipeline contracts […]
The gas market soared 47 cents higher today, taking back lost territory from yesterday’s price collapse rather quickly. Expectations for a lower than average storage injection this week are in line with the market’s upwards move today. G&A anticipates a 92 Bcf injection – this undercuts the five-year average by around 12 Bcf. Over the […]