Commodity Market Report

Global gas & LNG weekly summary: 02 May 2024

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the June TTF contract assumed the prompt front-month position. Prompt prices continued downward throughout the week, closing at $9/mmbtu. As the spread between Northeast Asia DES and TTF narrowed, cross-basin flows were disincentivised. European storage levels remained constant at 62% as colder than seasonal weather spurred withdrawals, contributing to the tighter market. Noteworthy operational developments include the scheduled maintenance of the LNG terminal Lithuania Klaipeda from 1 May to 14 June, impacting its 2.9 mtpa capacity, while the commissioning of the Alexandroupolis LNG terminal has encountered delays.

Table of contents

  • >> The full report is available as a PDF in the Download section
  • Northeast Asian DES prices drop below $10 despite strong summer demand from Southeast Asian countries such as Thailand
    • >> The full report is available as a PDF in the Download section

Tables and charts

This report includes 2 images and tables including:

  • Weekly European gas fundamentals
  • Weekly floating LNG storage and trade routes

What's included

This report contains:

  • Document

    Global Gas & LNG Executive Summary 20240502.pdf

    PDF 616.60 KB