LNG: Reliance on LNG Spot Market “Worst-Case Scenario”: JERA CEO
Sep-10 12:28
Japan’s largest power producer, JERA, has warned that reliance on spot purchases of LNG could be its “worst-case scenario” over the next decade, Platts reported.
- Global CEO Yukio Kani, speaking at Gastech, stressed that spot market dependence in a tight market could severely damage Japan’s economy.
- JERA currently manages around 35m mtpa of LNG, consuming 22m mtpa for thermal power and purchasing 5m mtt on the spot market in 2024-25.
- However, long-term supply security remains a concern. Kani noted that around 16m mt of existing contracts will expire in the 2030s, requiring significant replacement.
- Recently, the company secured 5.5m mtpa from the USGC.
- For now, JERA is prioritising LNG due to its relative affordability compared with offshore wind and ammonia.
- Still, Kani underlined the importance of continuing investment in green solutions, with company recently forming an offshore wind joint venture with BP.
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EGBS: Off Lows, Ranges Remain Tight
Aug-11 12:23
Bund futures stabilised in front of intermediate support at last Monday’s low (129.50) before recovering to ~129.70 in recent trade.
- Macro headline flow has been light over the last couple of hours, with recent social media posts from U.S. President Trump focused on combating crime and the implementation of tariffs, providing little new for markets to trade off.
- German yields are essentially unchanged across the curve.
- EGB spreads to Bunds are flat on the day.
GLOBAL POLITICAL RISK: Week Ahead 11-17 August
Aug-11 12:06
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(MNI) London – All timings are subject to change.
Monday 11 August:
- EU-Ukraine: An emergency videoconference of EU foreign ministers has been convened by High Representative for Foreign Affairs and Security Policy Kaja Kallas to discuss the upcoming meeting between US President Donald Trump and Russian President Vladimir Putin (see entry below). EU leaders have sought to convince Trump to invite Ukrainian President Volodymyr Zelenskyy to the Alaska summit, but to no avail so far. Foreign ministers will also discuss the situation in the Middle East, with a focus on the situation in Gaza. Due to start at 16:00CET (10:00ET, 15:00BST).
SPAIN T-BILL AUCTION PREVIEW: On offer tomorrow
Aug-11 12:01
Tesoro Publico has announced it will be looking to sell a combined E2.0-3.0bln of the following at its auction tomorrow, August 12:
- the 3-month Nov 7, 2025 letras
- the 9-month May 8, 2026 letras
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