The Northeast Asian assessed spot LNG price JKM for last week (15 July – 19 July) rose to low-USD 12s on 19 July from high-USD 11s the previous weekend (12 July).
JKM rose to low-USD 12s in the middle of the week followed by the active deals for summer demand, but then it fell due to ample supply and inventory.
METI announced on 17 July that Japan’s LNG inventories for power generation as of 14 July stood at 2.20 million tonnes, up 0.21 million tonnes from the previous week.
The European gas price TTF for last week (15 July – 19 July) rose to USD 10.3/MBtu on 19 July from USD 10.1/MBtu the previous weekend (12 July).
TTF rose to USD 10.5/MBtu on 16 July due to uncertainty over the restoration of Freeport LNG, but then fell to USD 10.3/MBtu on 19 July as the heat wave in Europe eased and supply from Norway remained steady.
According to AGSI+, the EU-wide underground gas storage increased to 82.3% as of 19 July from 80.5% the previous weekend.
The U.S. gas price HH for last week (15 July – 19 July) fell to USD 2.1/MBtu on 19 July from USD 2.3/MBtu the previous weekend (12 July).
The EIA Weekly Natural Gas Storage Report released on 18 July showed U.S. natural gas inventories as of 12 July at 3,209 Bcf, up 10 Bcf from the previous week, up 8.4% from the same period last year, and 16.9% increase over the five-year average.
Updated: July 22
Source: JOGMEC
