The Northeast Asian assessed spot LNG price JKM (November delivery) for last week (23 – 27 September) rose to low-USD 13s on 27 September from high-USD 12s the previous weekend (20 September).
Supply was steady throughout the week, but the price went upward trend mid-to-late in the week due to rise of European gas price and procurement activities for the winter months.
METI announced on 25 September that Japan’s LNG inventories for power generation as of 22 September stood at 1.64 million tonnes, down 0.23 million tonnes from the previous week.
The European gas price TTF (October delivery) for last week (16 – 20 September) rose to USD 12.5/MBtu on 27 September from USD 11.3/MBtu the previous weekend (20 September).
Lower temperatures and extended maintenance at the Norwegian gas field pushed price up more than one U.S. dollar from the previous weekend. According to AGSI+, the EU-wide underground gas storage increased to 94.1% as of 27 September from 93.6% the previous weekend.
The U.S. gas price HH for last week (23 – 27 September) rose to USD 2.9/MBtu (November delivery) on 27 September from USD 2.4/MBtu (October delivery) the previous weekend (20 September).
The price reached the higher level since June this year, due to reduced gas production from Gulf of Mexico caused by Hurricane Helen. The delivery month changed to November on 27 September.
The EIA Weekly Natural Gas Storage Report released on 26 September showed U.S. natural gas inventories as of 20 September at 3,492 Bcf, up 47 Bcf from the previous week, up 4.8% from the same period last year, and 7.1% increase over the five-year average.
Updated: September 30
Source: JOGMEC
