Commodity Market Report
LNG short-term outlook: February 2024
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Report summary
TTF prices have continued to tumble in February as mild weather continued to depress heating demand. European gas prices remain at the bottom of the coal-to-gas switching range, which has shifted down significantly with the decline in carbon prices. South and Southeast Asia continued to dominate tendering activity, but overall spot procurement hasn’t strengthened. We expect additional spot demand to materialize this year across Asia – mostly in South and Southeast Asia, and some in China. However, most countries have barriers which will limit upside. Japan and Korea continue to experience low power demand.
Table of contents
- Prices soften further as shoulder season demand struggles to emerge
Tables and charts
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- Updated: 29 February 2024
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