Global gas & LNG weekly summary: 5 Jan 2023 Report

Commodity Market Report 05 January 2023

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Report summary

Northeast Asia now has a premium down the entire curve for 2023 vs. TTF, as Europe continues to see warmer-than-normal temperatures resulting weekly withdrawals less than half of the 5-year average for this time of year. When TTF’S February contract fell below $23/mmbtu, it landed in the coal-to-gas switching range that should theoretically provide support for demand. Coal prices have held up strong in recent months, despite its substitute gas’s price collapse.

Northeast Asia gains premium down entire curve vs. TTF on weak European demand and strong Asian deliveries
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