The Northeast Asian assessed spot LNG price JKM (October delivery) for last week (8 – 12 September) fell to low-USD 11s/MBtu on 12 September from mid-USD 11s/MBtu the previous weekend (5 September).
JKM rose to high-USD 11s/MBtu on 9 September on the back of uncertainty over supply from Arctic LNG 2, but the upward trend eased as weak demand continued, and the price moved in the range of low- to mid-USD 11s/MBtu in the latter half of the week.
METI announced on 10 September that Japan’s LNG inventories for power generation as of 7 September stood at 1.81 million tonnes, down 0.20 million tonnes from the previous week.
The European gas price TTF (October delivery) for last week (8 – 12 September) rose to USD 11.2/MBtu on 12 September from USD 11.0/MBtu the previous weekend (5 September).
TTF rose to mid-USD 11s/MBtu in the first half of the week due to reduced supply from Norway and heightened geopolitical risks, but later hovered around low-USD 11s/MBtu as cooler weather forecasts prevailed across Europe.
According to AGSI+, the EU-wide underground gas storage was 80.1% on 12 September, up from 79.0% the previous weekend, down 14.6% from the same period last year, and down 7.3% over the five-year average.
The U.S. gas price HH (October delivery) for last week (8 – 12 September) fell to USD 2.9/MBtu on 12 September from USD 3.1/MBtu the previous weekend (5 September). HH trended mostly flat at around USD 3.1/MBtu in the first half of the week, but turned downward from the middle of the week due to sluggish power demand and ample storage levels.
The EIA Weekly Natural Gas Storage Report released on 11 September showed U.S. natural gas inventories as of 5 September at 3,343 Bcf, up 71 Bcf from the previous week, down 1.1% from the same period last year, and 6.0% increase over the five-year average.
Updated: September 16
Source: JOGMEC
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