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