A roundup of news and commentary from NGI’s LNG Insight
- Japanese LNG imports declined 9.6% year/year in February to 6.64 million tons. But imports from the United States jumped 41.2% over the same time, according to Japan’s Ministry of Finance. Country is No. 3 leading destination for U.S. exports, according to the Department of Energy.
- Spot Prices in North Asia have climbed in recent days as demand reemerges in wake of coronavirus outbreak in region and buyers appear more willing to take in cargoes. The shift is likely to provide improvements in U.S. LNG netbacks that have been squeezed in the region.
- Prompt-month European natural gas prices give up Thursday gains. NBP fell 4% and TTF declined 2.9% on Friday. Prices fell precipitously during the week on coronavirus outlook, which has also impacted Henry Hub in the U.S., which lost 3% on Friday.
- Analysts said colder weather expected next week in Europe will be offset by industrial demand decline related to virus lockdowns.
- Canada Gas & LNG Exhibition and Conference in May canceled because of coronavirus control measures. More than 5,000 attended last year. Vancouver, BC event rescheduled for May 2021.