The Northeast Asian assessed spot LNG price JKM for last week (8 July – 12 July) fell to high-USD 11s on 12 July from low-USD 12s the previous weekend (5 July).
JKM fell to high-USD 11s in the middle of the week due to ample supply, but then rose as lower price stimulated demand. METI announced on 10 July that Japan’s LNG inventories for power generation as of 7 July stood at 1.98 million tonnes, down 0.12 million tonnes from the previous week.
The European gas price TTF for last week (8 July – 12 July) fell to USD 10.1/MBtu on 12 July from USD 10.4/MBtu the previous weekend (5 July).
The demand was weak throughout the week, with TTF falling to USD 9.8/MBtu on 10 July. After that, TTF rose due to reduction of Norwegian production capacity. According to AGSI+, the EU-wide underground gas storage increased to 80.5% as of 12 July from 78.7% the previous weekend.
The U.S. gas price HH for last week (8 July – 12 July) remained USD 2.3/MBtu on 12 July from USD 2.3/MBtu the previous weekend (5 July).
The EIA Weekly Natural Gas Storage Report released on 10 July showed U.S. natural gas inventories as of 5 July at 3,199 Bcf, up 65 Bcf from the previous week, up 9.7% from the same period last year, and 18.7% increase over the five-year average.
Updated: July 16
Source: JOGMEC
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