The Northeast Asian assessed spot LNG price JKM this week stood at low USD 17s on 17 November from USD 16/MBtu the previous week. The price rose as delivery months switched amid easing risks related to Oman LNG and Freeport LNG troubles and ample supplies.
Demand remained subdued. METI announced on 15 November that Japan’s LNG inventories for power generation as of 12 November stood at 2.42 million tons, up 0.05 million tonnes from the previous week.
The European gas price TTF was at USD 14.4/MBtu, down slightly from USD 14.6/MBtu the previous week. According to AGSI+, the EU-wide underground gas storage rate declined to 99.0% as of 17 November from 99.5% the previous week as withdrawals began.
The U.S. gas price HH remained unchanged at USD 3.0/MBtu on 17 November from USD 3.0/MBtu the previous week. The EIA Weekly Natural Gas Storage Report released on 16 November showed U.S. natural gas inventories as of 10 November at 3,833 Bcf, up 60 Bcf from the previous week and 5.4% from the same period last year. This was a 5.6% increase over the five-year average.
Updated: November 20
Source: JOGMEC
