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Home LNG Contracts & Pricing

JKM, TTF rise on Norwegian gas processing facility and other maintenance deferrals

Editor by Editor
2 years ago
Reading Time: 1 min read
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The Northeast Asian assessed spot LNG price JKM for the previous week (12 June – 16 June) rose from the mid-USD 9s on the previous week to the mid-USD 13s on 15 June due to extended maintenance at the Nyhamna gas processing plant in Norway and concern that supply would be tight. It settled in the low USD 12s on the following day, 16 June.

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According to a 14 June METI release, Japan’s LNG inventories for power generation totaled 2.30 million tonnes as of 11 June, down 0.08 million tonnes from the previous week, up 0.16 million tonnes from the end of the same month of last year and up 0.35 million tonnes from the average of the past five years.

The European gas price TTF rose from USD 10.1/MBtu the previous week to USD 11.4/MBtu on 13 June following the announcement of the postponement of the completion of maintenance at several gas-related facilities in Norway.

On 15 June, the price temporarily rose to USD 15.6/MBtu during the day, but settled at USD 13.0/MBtu and further dropped to USD 11.3/MBtu the following day on 16 June.

ACER published the 16 June spot LNG assessment price for delivery in the EU at EUR 33.5/MWh (equivalent to USD 10.8/MBtu). According to AGSI+, the European underground gas storage rate as of 16 June was 73.7%, up from 71.5% the previous week.

The U.S. gas price HH rose slightly from USD 2.3/MBtu the previous week to USD 2.6/MBtu on 16 June due to expected higher summer temperatures.

According to the EIA Weekly Natural Gas Storage Report released on 15 June, the U.S. natural gas underground storage on 9 June was 2,634 Bcf, up 84 Bcf from the previous week, up 26.5% from the same period last year, and up 15.5% from the historical five-year average.

Updated 19 June 2023

Source: JOGMEC


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Tags: ACERAsian LNG demandFreeport LNGHammerfest LNGHenry Hub pricesJKM price indexJOGMECLNG cargoesspot LNG pricesTTF gas price
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