A roundup of news and commentary from NGI’s LNG Insight
- Typhoon In-fa was moving over Japan’s southern islands Friday ahead of a projected landfall in China Sunday or Monday in Zhejiang. Bloomberg reported that gas distributor ENN Group Co. Ltd. had to halt LNG truck deliveries from its Zhoushan terminal Friday due to the typhoon’s approach. Japan-Korea Marker prices shot above $14.00/MMBtu Wednesday and continued to hold above that level Friday on supply concerns.
- European natural gas prices moved lower Friday, but gained week/week. Nord Stream 1, which has been down for maintenance since July 13 started flowing again, alleviating some supply constraints on the continent.
- Henry Hub spot prices averaged $3.26/MMBtu in June, the highest price during any summer month since 2014, according to the Energy Information Administration. Prices in July have so far increased to average $3.67/MMBtu. EIA noted that spot prices on July 14 for each of the 175 North American pricing hubs tracked by NGI exceeded $3.00/MMBtu.
- Tighter supply and demand balances, driven by pipeline and LNG exports, along with more gas consumption for power, have pushed up prices. June 2021 was the hottest June on record for the United States, according to the National Oceanic and Atmospheric Administration.
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