The Northeast Asian assessed spot LNG price JKM for the previous week (8 January – 12 January) decreased to low USD 10s on 12 January from low USD 11s the previous week.
Inventories remain high across Northeast Asia, demand remains weak and supply remains ample. METI announced on 10 January that Japan’s LNG inventories for power generation as of 7 January stood at 2.51 million tons, down 0.19 million tonnes from the previous week.
The European gas price TTF decreased to USD 10.3/MBtu on 12 January from USD 11.1/MBtu the previous week. No big fundamentals change with warm temperature.
Demand is weak and inventories remain at high levels. According to AGSI+, the EU-wide underground gas storage declined to 79.7% as of 13 January from 84.7% the previous week.
The U.S. gas price HH rose to USD 3.3/MBtu on 12 January from USD 2.9/MBtu the previous week.
HH increased due to cold temperatures. The EIA Weekly Natural Gas Storage Report released on 11 January showed U.S. natural gas inventories as of 5 January at 3,336 Bcf, down 140 Bcf from the previous week, up 15.0% from the same period last year, and 11.6% increase over the five-year average.
Updated: January 15
Source: JOGMEC
