Global gas & LNG weekly summary: 21 Sep 2023
Prices cool off this week ahead of possible strike resolution as NCS production begins its return This week as of 20 Sep settles, we mostly saw decreases along the curve for both TTF and NE Asia as markets try to weigh the impact of the strikes with the general oversupply. TTF prompt was relatively flat week-over-week but Nov-Apr months averaged a decline of 6.5%. NE Asia also declined by ~6% from prompt through Apr with the exception of Dec, which declined by 12.6%. This week Chevron accepted recommendations from the Fair Work Commission (FWC) to resolve the conflict causing the strikes, and now they are talking with the unions again. The FWC will still meet on 22 Sep to decide if they will intervene.