Daily round up of natural gas prices – Henry Hub, JKM, TTF – and key market events
Gas Prices at the hubs:
Henry Hub
Day change: $0.113, down 1.6% | Settle: $2.491 | February 2021
TTF
Day change: $0.043, down 0.6% | Settle: $7.149 | February 2021
JKM
Day change: $0.530, down 5.9% | Settle: $8.485 | March 2021
As President Biden’s administration continues to transition into power, Commissioner Richard Glick was appointed Chairman of the FERC today. The commissioner publicly embraced the energy transition and is known for his challenge to how the commission should assess GHG emissions from gas systems.
During its 4Q report, Woodside guided towards lower LNG production in 2021 by the tune of ~7% as it shuts down its North West Shelf for maintenance this year.
Woodside remained upbeat on LNG for 2021, despite a rough 2020, as the market is expected to tighten this year based on expected demand growth in Asia.
In a sign of growing independence from Russia, Poland is planning a 750 MW gas-fired power plant to be supplied via LNG imports into Lithuania.
The project plans to utilize the Klaipeda terminal, which sits in the beautiful port city of…Klaipeda – the google images are great.
And speaking of Russia and energy, Germany’s Angela Merkel stated that she’d be willing to discuss Germany’s energy ties to Moscow with President Biden.
Despite a reiteration of her support for Nord Stream 2, newly picked Sec. of State Tony Blinken stated he is “determined to do whatever we can to prevent” the project.
Source: Tellurian
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