Articles tagged JKM

European natural gas prices declined on Monday, ending a charge higher last week that left the Title Transfer Facility (TTF) to close at its highest level since December.

Freeport LNG Development LP had nominated more feed gas Tuesday in an indication that the plant is ramping up a day after a spokesperson said the facility would return to service in phases after it was damaged last week by former Hurricane Beryl.

The flood of LNG poised to hit the global natural gas market later this decade is widely expected to push prices lower, potentially broadening the super-chilled fuel’s appeal in a way that could stoke more demand and help absorb the projected supply glut.

Global natural gas buyers are still signing long-term LNG contracts despite cooling market volatility and lower prices.

Global natural gas prices continued to trade sideways on Monday as ample supplies were available and forecasts were largely unchanged.

Despite multiple maintenance and outage events weighing on LNG supply and dwindling storage levels, European natural gas prices were cooling again while Asian buyers kept drawing cargoes.

Chevron Corp. said Tuesday it has shut down LNG production at its Wheatstone export terminal in Western Australia for repairs at a time when other outages are keeping the global natural gas market tight.

Hot weather, maintenance at power generation facilities and LNG production outages have combined to push Asian natural gas prices higher.

Global natural gas prices continued to climb on Monday amid hotter weather, supply constraints and increasing competition among buyers. 

Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan-Korea Marker and the Title Transfer Facility last year again outpaced purchases linked to oil prices in a trend being driven largely by LNG trade growth, according to the International Gas Union (IGU).