Daily review of natural gas prices – Henry Hub, JKM, TTF – and key market events
Gas Prices at the hubs:
Henry Hub
Day change: $0.286, up 11.2% | Settle: $2.850 | March 2021
TTF
Day change: $0.720, down 10.2% | Settle: $6.329 | March 2021
JKM
Day change: $0.350, down 3.9% | Settle: $8.820 | March 2021
BHI U.S. gas rig count for week ending 1/29: net flat at 88 as one rig was added to the Eagle Ford while another rig was yanked from ‘Other’.
As LNG prices arrive back to earth, Asian buyers are returning to the market, including India, where at least 8 tenders for Feb-Mar have been issued.
Similar to India, neighboring country Pakistan is also revisiting the market after saving nearly ~$30 million from scrapping a tender for March a few weeks back.
IHS Markit on Mozambique LNG: increasing security concerns, along with COVID-19, have “raised major questions over the timelines for such undertakings”.
IHS scored Mozambique an “F” for political violence over a 5-year outlook, while raising the issue of “sustained, long-term postponements of onshore development”.
BP announced it will divest a 20% stake in Oman’s Block 61 gas field to PTT for $2.6 billion as it continues to chip away at its $25 billion divestiture program by ’25.
NextDecade announced that it has dropped its plans for the development of 16.5 mtpa Galveston Bay LNG project.
Source: Tellurian
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