The Northeast Asian assessed spot LNG price JKM for last week (24 June – 28 June) fell slightly to mid-USD 12s on 28 June from high-USD 12s the previous weekend (21 June).
In the first half of the week, JKM was on an upward trend due to buying interest on the back of forecast higher summer temperatures in the East Asia region, but then fell to mid-USD 12s due to stable supply and weak demand. METI announced on 27 June that Japan’s LNG inventories for power generation as of 23 June stood at 2.08 million tonnes, down 0.06 million tonnes from the previous week.
The European gas price TTF for last week rose slightly to USD 10.8/MBtu on 28 June from USD 10.6/MBtu the previous weekend (21 June).
After rising slightly in the first half of the week on the back of demand for injection into underground gas storage and strong gas nominations from Norway, minor moves were recorded in the absence of a clear direction. According to AGSI+, the EU-wide underground gas storage increased to 76.7% as of 28 June from 74.8% the previous weekend.
The U.S. gas price HH for last week fell slightly to USD 2.6/MBtu on 28 June from USD 2.7/MBtu the previous weekend (21 June).
The EIA Weekly Natural Gas Storage Report released on 27 June showed U.S. natural gas inventories as of 21 June at 3,097 Bcf, up 52 Bcf from the previous week, up 11.3% from the same period last year, and 20.6% increase over the five-year average.
Updated: July 1
Source: JOGMEC
