Commodity Market Report

LNG short-term trade and price outlook (Q1 2024)

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TTF prices have continued to tumble in February as mild weather depressed heating demand further. European gas prices remain at the bottom of the coal-to-gas switching range, which has shifted down significantly with the decline in carbon prices. Asian LNG prices remain around $1/mmbtu premium to European LNG prices, supporting longer routes on efficient ships at the margin. The disconnect between spot LNG prices and oil-indexed contract prices has widened significantly this month and could trigger some contractual reshuffling for the summer, where flexibility allows.

Table of contents

  • Prices soften further as shoulder season demand struggles to emerge

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  • Document

    Short Term Outlook (Data) Q1 2024.xlsx

    XLSX 256.66 KB

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    LNG Short Term Outlook Q1 2024.pdf

    PDF 1.74 MB