Global gas & LNG weekly summary: 16 Feb 2023 Report

Commodity Market Report 16 February 2023

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Report summary

TTF’s front-month contract settled at $17 on Wednesday up from $16.9 a week ago, as demand fell for another week and supply jumped by 51 mcm/d. TTF also kept its premium over Northeast Asia down the entirety of the 2023 forward curve as the more profitable destination for a U.S. cargo. Northeast Asia prices decreased from $17.3 to $15.6, amid warmer-than-normal weather failing to bring down storage much as well as a large increase in LNG. Northeast Asia received 69 standard LNG cargoes last week, six more than the week before and 11 above forecasted.

TTF’s decline takes a pause, as Northeast Asia prices continue lower on high inventories, larger weekly LNG deliveries, and stubbornly below-average demand
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