LNG: JKM Reaches Highest Premium over Henry Hub Since Dec: Platts
Aug-29 12:08
Asia’s JKM climbed to its highest level versus Henry Hub since December, as geopolitical risks and supply-side shocks in the global market bolster prices, Platts said.
- JKM is around a $12.18/MMBtu premium over Henry Hub, the highest since December.
- Asian prices remain strong amid expected rising competition from Europe, with the Atlantic looking to fill a void due to maintenance in Norway, Algeria, and Libya, coupled with the expiry of Ukrainian transit flows.
- Platts forecasts that APAC LNG imports in H2 2024 will grow by 2% on the year.
- Sources told Platts that the US arb to Asia is closed with the netback for the Cape of Good Hope route at minus 37 cents/MMBtu
- US monthly LNG exports stood at 7.21m mt as of Aug. 29. 31% went to Europe and 20% to Asia.
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