LNG: Half of US LNG to Turkey on FOB Basis After Recent Deals: Minister

DFA has announced it will be looking to sell the following at its auction next Tuesday, September 9:

• E500mln of the 0% Aug-31 Green Bund (ISIN: DE0001030732)
• E1bln of the 2.50% Feb-35 Green Bund (ISIN: DE000BU3Z047)
   

• MNI: EUROZONE AUG SERV PMI 50.5 (50.7 FLASH, 51.0 JUL)

UKAs Dec25 are trending lower, weighed by losses in EUAs, with EUA-UKA correlation tightening to the highest level since late July. Meanwhile, UK equities gains are limiting carbon downsides, with FTSE100 rebounding following the selloff yesterday.

• UKA DEC 25 down 0.04% at 53.93 GBP/t CO2e
• NBP Gas OCT 25 up 0.2% at 78.19 GBp/therm
• FTSE 100 SEP 25 up 0.1% at 9151
• ICE UKA futures daily aggregate traded volume stood at 1,668 contracts in the previous session, down 13.09% compared with the 30-day average.
• The EUA Dec25 premium to the UK equivalent remained at a similar level at €11.59/t CO2e.
• Auction calendar for the day: The next UKA auction will clear at 14:00BST. The previous UKA auction cleared at 49.95 GBP/T at a 1.53 cover ratio.
• Correlation between EUA/UKA for 30-day period at 0.71.
• Correlation between UKA/TTF for 30-day period at 0.52.
• UK gas demand, including power generation and exports, is forecast at 112 mcm/d, below the five-year average, according to National Grid.
• The latest month-ahead ECMWF weather forecast has been revised-down slightly until 22 Sep and stands above average for most days.