Commodity Market Report
Global gas & LNG weekly summary: 29 Feb 2024
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 2 images and tables including:
- Weekly European gas fundamentals
- Weekly floating LNG storage and trade routes
What's included
This report contains:
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