The Northeast Asian assessed spot LNG price JKM for the previous week (2 – 6 October) was high-USD 12s on 6 October, down from mid-USD 14s the previous week, as inventory levels were healthy and buying interests declined amid China’s national holiday.
Japanese and Korean electric utilities are beginning to show a willingness to buy for the winter season. METI announced on 4 October that Japan’s LNG inventories for power generation totaled 1.62 million tonnes as of 1 October, up 0.06 million tonnes from the previous week.
The European gas price TTF was USD 11.8/MBtu on 6 October from USD 13.0/MBtu the previous week due to high underground gas inventories despite the extension of the North Sea gas field maintenance. According to AGSI+, the European underground gas storage rate as of 6 October was 96.7%, up from 95.4% the previous week.
The U.S. gas price HH rose from USD 2.9/MBtu the previous week to USD 3.2/MBtu on 5 October after the release of the latest inventory report, and remained at the same level at USD 3.3/MBtu on 6 October.
According to the EIA Weekly Natural Gas Storage Report released on 5 October, the U.S. natural gas underground storage on 29 September was 3,445 Bcf, up 86 Bcf from the previous week, up 11.6% from the same period last year, and up 5.3% from the average of the past five years.
Updated: October 10
Source: JOGMEC
Online platform for sharing analysis and information on Global and regional LNG markets. Weekly newsletter each Wednesday more info
Sign up to receive our weekly newsletter with new LNG market reports, presentations & analysis. Every Wednesday!
By signing up, I agree to our TOS and Privacy Policy.
© 2020 GlobalLngHub | All Rights Reserved
SIGN UP to receive our weekly newsletter with new LNG market reports, presentations & analysis. EVERY WEDNESDAY!
