Global Nat Gas & LNG

Dutch TTF natural gas futures data updated as of August 7 shows contracts trading in the mid-to-high 50s EUR/MWh range. Volumes indicate active trading. This tracks the European benchmark amid current supply conditions. Read →

LNG JKM futures data for early August 2026 shows prices around $21.14/MMBtu. Northeast Asian summer cooling loads and supply tightness provide support. The Asian benchmark maintains a premium to European levels. Read →

JKM settled at $21.10/MMBtu, down 0.38%, supported by Northeast Asian summer cooling demand and tight Pacific supply. TTF pulled back faster, widening the JKM-TTF premium to around $4. The spread directs flexible Atlantic cargoes eastward. Read →

EU natural gas benchmark rose to 54.11 EUR/MWh on August 6, up 3.26% from the prior day. Dutch TTF leads European pricing. The move reflects latest futures trading data in a market still shaped by storage refill dynamics. Read →

Platts JKM LNG benchmark fell to 20.92 USD/MMBtu on August 5, a 1.23% daily decline. The North Asian marker tracks spot LNG for Japan, South Korea and China. Price action shows modest easing in Asian demand signals versus recent highs. Read →

Uniper finalized a 20-year FOB LNG purchase agreement for 2 million tonnes per year from Canada's Ksi Lisims project. First deliveries targeted from 2032. The long-term contract bolsters German supply diversification away from traditional pipeline sources. Read →

EU gas storage reached about 57.15% of working capacity as of early August, running 11-12 percentage points below the five-year seasonal norm. Injections continued at a pace near the relaxed November 1 target of 80%. Lower levels sustain focus on LNG imports and TTF pricing. Read →

Japan's top power generator JERA stated it holds sufficient LNG inventories to cover peak summer demand through October even under heatwave scenarios. This reduces immediate spot-buying pressure from Northeast Asia on the JKM benchmark and limits potential cargo diversions away from Europe. Read →

EU gas storage stood at approximately 55.35% full as of late July, about 12 percentage points below the five-year seasonal average, with daily injections running near or below the pace required for the relaxed 80% November 1 target. Low levels heighten reliance on LNG send-out and imports to refill ahead of winter, supporting TTF prices despite recent volatility. Read →

Europe begins the 2026 summer injection season with only 31 bcm in storage, the lowest level since 2018, amid lost Qatari LNG volumes and minimal Russian pipeline flows. The shortfall forces higher reliance on spot LNG cargoes and Norwegian supplies, keeping northwest Europe send-out and TTF-JKM arb dynamics in focus for traders. Read →

EU aggregate gas storage reached 57.11% full on the August 1 gas day, the lowest level ever recorded for that calendar date and below the 2021 prior low of 57.28%. The deficit reflects slower-than-needed injections this summer. It tightens the supply outlook for winter and supports elevated TTF pricing into the refill season. Read →

GasLog Shanghai LNG carrier, loaded at Qatar's Ras Laffan terminal July 27-28, reported stable after an incident exiting the Strait of Hormuz on July 31; crew safe, vessel now off Oman. Nearly one-fifth of global LNG transits the strait, already thinned by Iran-related closures since February. The event underscores ongoing shipping risks for Qatari and UAE exports that support European and Asian spot markets. Read →

Global benchmarks including JKM and TTF declined in the latest weekly update. The move aligns with broader energy price softening. Asian and European LNG-linked prices continue to respond to supply flows and seasonal demand patterns. Read →

July 2026 exports from non-Persian Gulf sources posted the narrowest year-on-year gain of the year. Persistent demand outside Europe continues to outpace available supply. This tightens competition for spot cargoes between Asia and Europe, supporting the TTF-JKM arb dynamics. Read →

Engie reported 3.3% higher first-half EBIT excluding nuclear at €5.3 billion, beating forecasts, with its energy management and trading unit up slightly as volatility from the Iran conflict lifted results. European benchmark gas prices averaged €45.63/MWh in Q2, 28% higher than a year earlier due to restricted Middle East cargoes, though trading gains were modest versus 2022. Warmer weather cut gas generation income 30%, but the firm raised full-year guidance. Read →

QatarEnergy purchased 33 spot US LNG cargoes this year for delivery to South Korea, Taiwan, Bangladesh, India and Japan, with 28 already delivered. The purchases, worth around $1 billion, aim to offset force majeure on its own shipments after Iran closed the Strait of Hormuz to shipping. This supports Asian buyers and protects QatarEnergy's reputation as a reliable supplier while 20% of global LNG flows remain bottled up. Read →

The Al Areesh tanker, loaded at Ras Laffan around July 4-6, exited the Strait of Hormuz overnight on July 29, the first such QatarEnergy vessel since July 11 per Kpler and LSEG data. Hormuz transits ticked up slightly on Wednesday but remain severely curtailed by the Iran war blockade. Ship traffic through Bab el-Mandeb also slowed. Read →

Dutch TTF benchmark EU gas price fell to 60.32 EUR/MWh on July 30, down 0.40% from the prior day. Prices have risen over 40% in the past month amid ongoing supply concerns. The TTF remains the key European hub benchmark. Read →

LNG JKM climbed to 21.43 USD/MMBTU on July 29, up 0.49% from the previous session. The benchmark has gained 33.52% over the past month. It tracks spot LNG delivered to Japan and South Korea. Read →

TTF futures opened 1.9% higher at €58.82 per MWh on the Amsterdam market. The move reflects intraday trading sentiment with no specific fundamental driver cited in the report. Read →

Singapore LNG bunker prices rose $53/mt to $1,394/mt over the past week, widening the premium over Rotterdam to $243/mt. The increase tracked front-month JKM gains of $1.02/MMBtu to $22.00/MMBtu amid geopolitical tensions and supply concerns. Read →

China has restarted LNG re-exports as summer supply proves sufficient and JKM strengthens. July JKM averaged $18.783/MMBtu per Platts data, supporting the shift in trade flows. Read →

Chinese importers reloaded two LNG cargoes from terminals in July, the first commercial re-exports since April, after JKM rose above $17/MMBtu and September deliveries hit $21.60/MMBtu. Domestic demand lagged imports, making spot sales abroad more profitable by over $3/MMBtu. The move signals China redirecting surplus cargoes to Northeast and Southeast Asia, tightening availability for European buyers. Read →

Dutch TTF front-month futures closed at €58.70/MWh, down 7.67% from the prior session with a daily range of €58.525-59.500. The decline aligns with LNG cargoes shifting toward Asia amid higher JKM values and sufficient European summer supply. Lower TTF reduces the incentive for storage injections ahead of winter. Read →

JKM closed at $21.76/MMBtu, down 1.09%, while TTF settled around €58.54/MWh equivalent to $18.80/MMBtu. JKM traded at a $2.96/MMBtu premium to TTF, sustaining the arbitrage that diverts flexible cargoes from Europe to Asia. European storage refill faces headwinds from the price signal and geopolitical supply risks. Read →

Asia spot LNG prices rose for a fifth straight week to their highest in four months amid Houthi attacks on Saudi tankers and fears of wider shipping disruptions through the Strait of Hormuz. JKM is now expected to average $19.50/mmBtu in H2 2026, up sharply from prior forecasts. Northwest Europe LNG benchmark assessed at a discount to TTF, underscoring the need for Europe to compete harder for cargoes to build storage ahead of winter. Read →

China is re-exporting the first US LNG cargo in over a year as local firms flip it for higher margins in third-party markets and to avoid tariffs. The move highlights shifting global LNG flows and potential impacts on Asian and European price benchmarks amid tight supply. Read →

Asian and European LNG buyers plan to demand lower prices and supply guarantees from Qatar and UAE after the U.S.-Iran war closed the Strait of Hormuz, raising insurance costs and forcing force majeure on Qatari deliveries. Qatar and UAE account for one-fifth of global LNG export capacity, all routed through the strait. The shift weakens their negotiating power and intensifies competition for cargoes heading to Europe and Asia. Read →

QatarEnergy extended force majeure on LNG supplies to buyers in South Korea, India and Bangladesh until at least mid-September, with expectations of further extensions into October as the Strait of Hormuz stays closed. The company is chartering out tankers through mid-October. Prolonged Qatari outages will tighten global LNG supply and support higher prices for Asian and European buyers into winter. Read →

TotalEnergies CEO said the company earns about $400 million annually from lifting and selling cargoes from Russia's Yamal LNG plant via its UK entity, despite deconsolidating the stake. EU countries are taking record volumes from Yamal ahead of a 2027 import ban. The flows provide additional LNG supply into Europe amid broader Middle East disruptions. Read →

Greece-based Dynagas will continue transporting Russian LNG to third countries for 12 months under a new EU sanctions package, with volumes capped at 2025 levels. The exemption, reported by the FT and still needing final approval, resolves Greek objections that had delayed the 21st sanctions round. It sustains Russian LNG availability amid tight global supplies and European storage shortfalls. Read →

Equinor said Europe is unlikely to reach its 80% storage target as LNG cargoes divert to Asia amid competition and supply concerns. EU storage sits around 54%, well below seasonal norms, raising winter supply risks. The warning highlights pressure on TTF from slow injections and global cargo competition. Read →

Russian LNG imports to the EU rose 15% in the first half of 2026 while US supply shares declined. The trend occurs as the bloc debates a full ban and further sanctions on Moscow energy exports. Increased Russian volumes add to available supply even as European storage rebuild lags. Read →

The Japan-Korea Marker (JKM) LNG price climbed to US$22.17 per MMBtu on July 23. The move reflects strong Northeast Asian demand and competition for cargoes versus Europe. Elevated Asian prices widen the TTF-JKM arb, influencing spot cargo routing. Read →

Egypt is negotiating with Shell, TotalEnergies, BP and Hartree for 15-18 LNG cargoes per month over at least three years at a premium to TTF. Domestic production has fallen below 4.4 bcf/d and import costs have nearly tripled amid tight global markets from the Iran conflict. The deals would add $8-11 billion annually to Egypt's energy bill and compete for spot and term cargoes that influence both TTF and JKM. Read →

European gas storage stands 10% below year-ago levels, reaching only 50% capacity in early July. Injection rates over the past three months are 15% lower than the same period in 2025 per European gas association data. Slower refill pace tightens summer supply and supports TTF prices ahead of winter. Read →

EU storage opened the summer injection season at just 31 bcm, the lowest since 2018. Reaching even an 80% fill target by November requires 57 bcm of injections amid lost Qatari LNG and Russian flows. The shortfall underpins elevated TTF and increases competition for Asian LNG cargoes. Read →

EQT missed Q2 profit estimates due to lower US Henry Hub prices insulated from global spikes. Record domestic output and storage keep US prices low while international benchmarks rise on Middle East tensions. The contrast highlights the TTF-JKM premium over US gas and limited US LNG export relief for Europe/Asia. Read →

European wholesale natural gas prices climbed sharply Monday to highest since late March. Dutch TTF front-month contract rose 3.45% in mid-morning trading. Move reflects renewed Middle East geopolitical tensions threatening global LNG supplies. Read →

European natural gas prices surged as high as 60.50 euros per MWh in Asian trading Monday. Benchmark reached four-month high before trimming gains amid US-Iran escalation. Shipping through Hormuz largely stalled, delaying Qatari LNG export recovery and pressuring Europe storage rebuild. Read →

LNG Japan Korea Marker climbed to 21.03 USD per MMBtu on July 20. Price gained 0.19% from prior day with 32.57% rise over the past month. Movement tracks global supply concerns tied to Hormuz disruptions. Read →

TTF prices climbed on fears that the Hormuz blockade will choke LNG flows from Qatar, the region's largest exporter. Reduced transits directly tighten cargoes available for delivery into northwest Europe terminals. The price action reflects immediate supply-risk premium rather than storage or weather data. Read →

Tanker tracking shows LNG traffic through the Strait of Hormuz stopped over the past three days while crude oil transit fell sharply. The halt places direct upward pressure on gas prices in both Asia and Europe by limiting Qatari and UAE cargoes. Broader strikes raise the risk that the disruption persists beyond the immediate weekend. Read →

TP ICAP executed the first physically settled trade on Joule using an instrument indexed to the Argus TTF day-ahead assessment on July 7. The move expands hedging tools tied to the European benchmark as LNG replaces lost Russian pipeline supply and TTF solidifies its role as the primary reference for global LNG procurement. Read →

S&P Global Platts proposed new daily assessments for spreads including JKM versus TTF derivatives. The benchmarks would give traders clearer signals on the Europe-Asia arbitrage that has driven recent cargo diversions amid elevated Asian prices and Middle East supply risks. Read →

QatarEnergy halved its 2026 LNG deliveries under two long-term contracts to Petrobangla due to ongoing disruptions from the U.S.-Israeli war on Iran blocking shipments through the Strait of Hormuz. Petrobangla, Bangladesh's largest LNG buyer last year, is turning to spot purchases and other suppliers to cover the shortfall. The cut tightens Asian supply and supports the JKM premium over TTF. Read →

Petrobangla confirmed its 2026 LNG imports from QatarEnergy will drop 50%, with JKM assessed at $19.436/MMBtu for August delivery on July 14. The reduction stems from war-related shipping constraints and forces greater reliance on the spot market. This adds upward pressure on Asian LNG benchmarks. Read →

Turkey's hydro output rose nearly 60% year-on-year in January-May, slashing gas-fired power generation more than 40% to 17.48 TWh. As Europe's fourth-largest gas consumer, this has boosted storage injections around 18% above prior-year levels and eased regional inventory pressure. Renewables now supply over 60% of Turkey's electricity, reinforcing weaker European gas demand amid the summer injection season. Read →

EU gas storage stood at around 49% capacity as of early July, similar to 2021 levels and below recent years, with injections running below the 10-year summer average. Low starting levels from April (28% capacity) and competition for LNG cargoes from Asia risk missing winter refill targets. ACER urges closer monitoring and active management to meet Gas Storage Regulation requirements. Read →

EU imported 9.97 million tons of Yamal LNG in H1 2026, up 16% YoY across 136 cargoes, mostly to France, Belgium and Spain. Long-term contract volumes continue until the January 2027 ban while short-term deals ended in April. The surge reflects front-loading before the full Russian gas import ban and adds to Europe's supply mix amid tight storage. Read →

Pakistan LNG seeks an additional spot cargo for July delivery as US-Iran clashes in Hormuz block Qatari shipments. The country has already secured three replacement cargoes this month, the most since the conflict began. Renewed tensions tighten global spot supply and boost demand for alternative exporters like the US. Read →

Dutch TTF benchmark EU gas price climbs to 52.54 EUR/MWh on July 14, gaining 2.12% in the session. The move aligns with Asia's stronger pull on US LNG and Europe's widening storage deficit. Prices are now 52.52% higher year-on-year as summer injection pace slows. Read →

August 2026 TTF futures rose 3.35% to $59.51/MWh after renewed US-Iran clashes slowed Strait of Hormuz traffic and prompted Qatar to suspend maritime activity, threatening LNG exports from Ras Laffan. Europe faces tighter supply while refilling storage ahead of winter as Middle East cargoes stall. The move follows partial recovery in Qatari shipments after earlier June easing. Read →

Rotterdam LNG bunker prices surged $52/mt mirroring front-month TTF gains, driven by renewed US-Iran tensions and reduced Hormuz tanker transits. QatarEnergy extended force majeure on some LNG shipments to Asia and Europe into August or early September. JKM front-month rose $0.54/MMBtu to $16.07/MMBtu over the week amid spot cargo competition. Read →

TTF averaged near $16/MMBtu and JKM $17.5/MMBtu in Q2 2026, their highest since 2022, after Hormuz disruption flipped the arb to favor Asia and diverted cargoes. Prices eased after June interim agreement but remain elevated versus 2025. Europe saw over 10% drop in LNG imports while Asia absorbed more spot supply. Read →