Commodity Market Report
LNG short-term outlook: March 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
TTF prices have increased almost +20% since our last update. This is largely linked to the strengthening in coal and carbon prices due to additional sanctions on Russian coal production, some disruptions, emerging demand in the Mediterranean and opportunistic buying. As a result, the European coal-to-gas switching range shifted up +$1.5/mmbtu – supporting gains at TTF which still trades at the bottom of the switching range to incentivise gas demand. Asian LNG prices moved upwards with European markers, but also with additional procurement. Their premium to Europe LNG prices remained around $1/mmbtu, supporting longer routes on efficient ships at the margin.
Table of contents
- Commodity prices soared this month, but the market remains well supplied
Tables and charts
This report includes the following images and tables:
- Updated: 28 March 2024
What's included
This report contains:
Other reports you may be interested in
Insight
What does an OPEC+ accelerated return of cuts mean?
We examine the impact of a continuation of the accelerated easing of OPEC+ voluntary cuts from July through October 2025.
$1,350
Asset Report
Damietta (Segas LNG) - Commercial Overview
Damietta (Segas LNG) operates as an LNG tolling facility. Gas was supplied from the Egyptian National Grid but is currently halted.
$2,700
Asset Report
PETRONAS FLNG 2 - commercial overview
The SB H block in deepwater Sabah contains four gas fields that will be developed as part of the first phase of a Floating LNG (FLNG) ...
$2,700
