The Northeast Asian assessed spot LNG price JKM for the previous week (6 November – 10 November) fell to high USD 15s on 10 November as demand remained sluggish on the back of warm weather and ample inventories from the low USD 16s the previous week.
METI announced on 8 November that Japan’s LNG inventories for power generation totaled 2.37 million tonnes as of 5 November, up 0.19 million tonnes from the previous week.
The European gas price TTF was USD 14.3/MBtu on 8 November from USD 15.1/MBtu the previous week. During this period, the price remained stable amid bearish fundamentals, despite nervous price movements due to geopolitical risks.
TTF then rose to USD 15.1/MBtu on 9 November in response to lower temperatures, but fell to USD 14.6/MBtu on 10 November due to maintaining healthy inventory levels.
According to AGSI+, the European underground gas storage rate as of 10 November was 99.5%, almost unchanged from the previous week. Since 7 November, it has begun to decline due to withdrawals from underground gas storage.
The U.S. gas price HH was USD 3.0/MBtu on 10 November from USD 3.5/MBtu the previous week on the back of forecasts of rising temperatures.
Updated: November 13
Source: JOGMEC
