Global gas & LNG weekly summary: 10 Aug 2023
With a possible Australian LNG strike on the horizon, TTF spikes at the prospect of more competition with NE Asia This week TTF increased considerably after the news broke of a possible strike at major LNG export facilities in Australia. TTF prompt increased ~34%, and the winter months averaged an increase of ~12%. NE Asia also posted a ~7% increase in the front of the curve and ~3% in the rest of the curve, but NE Asia is expected to increase more as it catches up with TTF on the fears of an LNG supply cut from Australia. Henry Hub also reacted to this news, with prompt increasing 20% week-over-week to the $3 mark and lifting prices through May ’24.