The Northeast Asian assessed spot LNG price JKM for the previous week (11 July-15 July) fell to USD 38/MBtu on 12 July from USD 42/MBtu the previous week.
JKM subsequently rose due to increased trading volume in Northeast Asia, potential buying interest, and supply concerns, reaching USD 42/MBtu on 14 July, but fell to USD 39/MBtu on 15 July due to weaker downstream demand in Northeast Asia.
The European gas price TTF fell to USD 48.9/MBtu on 11 July from USD 51.1/MBtu the previous week.
TTF then rose to USD 53.1/MBtu on 13 July due to a partial shutdown caused by a gas leak at the Sleipner gas field in Norway, but subsequently declined to USD 46.0/MBtu on 15 July.
In Europe, a pipeline between Greece and Bulgaria to supply mainly Azeri gas was completed.
The operator has been officially certified as an independent gas transportation operator and is proceeding with the start of commercial operation at the end of this quarter.
The U.S. gas price HH rose to USD 6.4/MBtu on 11 July from USD 6.0/MBtu the previous week, but fell to USD 6.2/MBtu on 12 July.
HH rose to USD 6.7/MBtu on 13 July due to lower gas production and cooling demand from the heat wave. The price then, fell slightly the following day on 14 July but rose to USD 7.0/MBtu on 15 July.
According to the U.S. Energy Information Administration, gas storage as of 8 July was 2,369 Bcf, up 58 Bcf from the previous week, 252 Bcf below the year-ago level and 319 Bcf below the average for the past five years.
Updated 19 July 2022
Source: JOGMEC
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