Global gas & LNG weekly summary: 12 Jan 2023

Prices fall as mild weather continues to keep demand smothered compared to average across U.S., Northeast Asia, and Europe Northeast Asia continues to hold onto its premium over TTF down the curve until November, but the two aren’t far apart. TTF’s February contract is around $21/mmbtu, up $1 week-over-week. This is right above the coal-to-gas switching range, which has a ceiling of around $19 right now. Another week of lackluster demand has kept global gas prices down after their beating over the last few weeks, with the majority of the ultra cold weather in the northern hemisphere seemingly concentrated in Siberia. TTF, JKM, and Henry Hub seem to be taking a pause here now that way colder-than-average temperatures are forecasted for the end of the month in Asia, Europe, and most of the U.S.