The Northeast Asian assessed spot LNG price JKM for the previous week (11 March – 15 March) stayed the same as low-USD 9s on 15 March from the previous weekend. JKM first decreased due to demand decrease, but, increased due to the trouble of US LNG liquefaction plants. METI announced on 13 March that Japan’s LNG inventories for power generation as of 10 March stood at 1.83 million tonnes, up 0.12 million tonnes from the previous week.
The European gas price TTF increased to USD 8.6/MBtu on 15 March from USD 8.5/MBtu the previous weekend. TTF moved the same due to the same reason as JKM. According to AGSI+, the EU-wide underground gas storage declined to 59.7% as of 15 March from 60.8% the previous week.
The U.S. gas price HH decreased to USD 1.7/MBtu on 15 March from USD 1.8/MBtu the previous weekend. There was no big fundamental change on HH. The EIA Weekly Natural Gas Storage Report released on 14 March showed U.S. natural gas inventories as of 8 March at 2,325 Bcf, down 9 Bcf from the previous week, up 16.9% from the same period last year, and 37.1% increase over the five-year average.
Source: JOGMEC
