Commodity Market Report
Global gas & LNG weekly summary: 29 Feb 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
European TTF prices started the week softening, before recovering and settling $0.5/mmbtu higher week on week at just over $8/mmbtu. This reversal was partly driven by a joint increase in coal prices (+8%) and carbon prices (+12%) since last Friday, lifting the coal-to-gas switching curve up. Northeast Asian LNG delivered prices have tracked European prices with a small lag, also ending the week on an upward trend at $8.3/mmbtu. The spread between Asian and European LNG DES prices has narrowed, diminishing the incentive for cross-basin trade via the longer route of Good Hope. Tendering activity has remained thin this week, with Thailand’s PTT awarding some April-May deliveries and Vietnam’s PVGas seeking an April cargo.
Table of contents
- >> The full report is available as a PDF in the Download section
- Rising coal and carbon prices provide support to European gas prices, offsetting losses from the last two weeks
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Extract examples of the PDF report
- >> The full report is available as a PDF in the Download section
Tables and charts
This report includes the following images and tables:
- Weekly European gas fundamentals
- Weekly floating LNG storage and trade routes
What's included
This report contains:
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