The Northeast Asian assessed spot LNG price JKM for the previous week (15 January – 19 January) fell to mid USD 9s on 19 January from low USD 10s the previous week. Inventories remain high with weak demand. METI announced on 17 January that Japan’s LNG inventories for power generation as of 14 January stood at 2.58 million tonnes, up 0.07 million tonnes from the previous week.
The European gas price TTF fell to USD 9.1/MBtu on 19 January from USD 10.3/MBtu the previous week. Temperatures temporarily dropped but then increased. TTF fell due to high inventories. According to AGSI+, the EU-wide underground gas storage declined to 75.5% as of 19 January from 80.2% the previous week.
The U.S. gas price HH decreased to USD 2.5/MBtu on 19 January from USD 3.3/MBtu the previous week. HH decreased due to higher temperatures. The EIA Weekly Natural Gas Storage Report released on 18 January showed U.S. natural gas inventories as of 12 January at 3,182 Bcf, down 154 Bcf from the previous week, up 12.4% from the same period last year, and 11.2% increase over the five-year average.
Source: JOGMEC
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