MNI Gas Weekly: China, Russia Reinforce Gas Relationship

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Executive Summary: 

• European Gas Benchmarks are rangebound as European fundamentals appear supportive overall, with curtailed Norwegian supply partly offset by higher LNG inflows.
• Asia’s LNG market is facing pressure from persistent weak spot buying interest amid sufficient inventories, while the market digests a novel Arctic LNG 2 cargo delivery to China and China-Russia gas deals.
• In the Middle East & Africa, Nigeria’s NLNG has signed various upstream gas supply agreements in order to help close the ongoing shortfall in upstream gas supply.
• Henry Hub regained some ground overall amid lower production, despite cooler weather forecasts.
• In the Americas,  companies are vying to construct a new regasification facility in Colombia as the nation faces a growing gas supply deficit.