Natural gas and LNG related information

Weekly Trend of Natural Gas and LNG Prices

LNG and Spot Gas Prices, 2021 - 2022

(28 November 2022 Updated)

  • The Northeast Asian assessed spot LNG price JKM for the previous week (21 November-25 November) rose to USD 30/MBtu on 21 November from USD 29/MBtu the previous week as winter heating demand in Asia strengthened. It then fell to USD 29/MBtu on 22 November due to high inventories across Northeast Asia and as the market remained quiet, searching for price direction. On 23 November, JKM reached USD 34/MBtu on the back of limited trading due to a holiday in Japan and higher European gas prices. Spot demand was weak on 24 November due to mild weather in Asian countries and fell to USD 31/MBtu, and on 25 November it stayed at USD 32/MBtu. According to METI, Japan’s LNG inventories for power generation were 2.61 million tonnes as of 20 November, up 0.1 million tonnes from the end of the same month last year and up 0.45 million tonnes from the average of the past five years, which remains a high level.
  • The European gas price TTF declined slightly to USD 34.9/MBtu on 21 November from USD 35.1/MBtu the previous week. It then rose for two consecutive days to hit USD 39.2/MBtu on 23 November due to increased heating demand from colder weather in Europe and the European Commission's proposal to limit excessive gas price spikes. It fell back to USD 37.5/MBtu on 24 November due to continued nearly full gas storage rates and low liquidity in the market, and remained flat at USD 37.6/MBtu on the following day. According to AGSI+, the EU average underground gas storage on 25 November was 94.01%.
  • The U.S. gas price HH rose to USD 6.8/MBtu on 21 November from USD 6.3/MBtu the previous week and remained flat on 22 November, but rose to USD 7.3/MBtu on 23 November. After a holiday closure on 24 November, HH fell to USD 7.0/MBtu on 25 November. Freeport LNG announced on 18 November that it plans to resume initial production in mid-December, rather than the originally planned mid-November, subject to regulatory approval. According to the EIA Weekly Natural Gas Storage Report released on 23 November, the US natural gas underground storage on 18 November was 3,564 Bcf, an increase of 80 Bcf from the previous week, down 1.7% from the same period last year and down 1.1% from the historical five-year average.

Monthly spot LNG prices for delivery to Japan

JOGMEC conducts a survey on spot LNG prices for delivery to Japan with the cooperation of companies that are end-consumers of spot LNG and publishes monthly average spot LNG prices from April 2021.



Monthly Report

JOGMEC publishes monthly reports on trends in natural gas and LNG prices in Japan, other Northeast Asian countries, the U.S. and Europe, LNG inventories in Japan, underground storage of natural gas in the U.S. and Europe, and the latest developments in LNG projects around the world.



Natural gas and LNG Data Hub

JOGMEC compiled and published a wide range of information and data on global natural gas and LNG trends based on publicly available information as “Natural Gas and LNG Data Hub”.


Survey on Destination Clauses and Price Indices in LNG SPAs

JOGMEC conducted a survey on the current status of the destination restrictions in LNG SPAs with the full cooperation of Japanese LNG buyers and published the results as below.


Survey on LNG Handling Volume by Japanese Companies

JOGMEC conducted a survey on the volume of LNG handled by Japanese companies, including transactions supplied to third countries (“external trade”) with the full cooperation of all 30 companies which handle LNG, and published the results.


 

Important notice: Statistical data may be retroactively adjusted

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