The Northeast Asian assessed spot LNG price JKM for this week (22 April – 25 April) decreased to low-USD 10s on 25 April from high-USD 10s the previous weekend.
Low demand due to easing geopolitical tensions and ample inventories continued to push price down for a fourth straight day.
METI announced on 24 April that Japan’s LNG inventories for power generation as of 21 April stood at 2.05 million tonnes, up 0.43 tonnes from the previous week.
The European gas price TTF for this week decreased to USD 9.4/MBtu on April 25 from USD 9.6/MBtu the previous weekend.
European gas prices decreased to USD 8.9/MBtu in the first half of the week due to easing geopolitical tensions. In the latter half, the prices went upward trend due to inventory use for cold weather and maintenance on the Norwegian continental shelf.
According to AGSI+, the EU-wide underground gas storage decreased to 61.7% as of 24 April from 62.0% the previous week.
The U.S. gas price HH for this week decreased to USD 1.6/MBtu on 25 April from USD 1.8/MBtu the previous weekend. HH stabilized at low levels due to moderate weather, strong productions and high inventories.
The EIA Weekly Natural Gas Storage Report released on 25 April showed U.S. natural gas inventories as of 19 April at 2,425 Bcf, up 92 Bcf from the previous week, up 22.1% from the same period last year, and 37.0% increase over the five-year average.
Updated: 26 April 2024
Source: JOGMEC
