The Northeast Asian assessed spot LNG price JKM for the previous week (29 January – 2 February) increased to mid US$9 range on 2 February from high US$8 range the previous week. TTF and Asian demand increase caused the JKM increase.
METI announced on 31 January that Japan’s LNG inventories for power generation as of 28 January stood at 2.16 million tonnes, down 0.33 million tonnes from the previous week.
The European gas price TTF increased to USD 9.3/MBtu on 2 February from USD 8.9/MBtu the previous week. The conflict in the Red Sea and Freeport LNG train 3 trouble caused the increase. According to AGSI+, the EU-wide underground gas storage declined to 69.3% as of 2 February from 72.3% the previous week.
The U.S. gas price HH fell to USD 2.1/MBtu on 2 February from USD 2.7/MBtu the previous week. Gas production increase caused the HH fall. The EIA Weekly Natural Gas Storage Report released on 1 February showed U.S. natural gas inventories as of 26 January at 2,659 Bcf, down 197 Bcf from the previous week, up 2.1% from the same period last year, and 5.1% increase over the five-year average.
Source: JOGMEC
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