LNG supply see some unanticipated disruptions – NAB Group
There was relatively little movement in liquefied natural gas (LNG) prices in July, NAB Group commodity analysts note.
LNG supply is expected to expand
“There was relatively little movement in liquefied natural gas (LNG) prices in July – with the Japan Korea marker trading in a US 55 cent range above US$12/mmbtu over the course of the month, marginally above the levels recorded during the same period in 2023.”
“LNG markets have seen strong demand in recent months (compounding peak demand during the northern summer), as heatwave conditions across much of South and South-east Asia bolstered electricity consumption, while LNG supply saw some unanticipated disruptions.”
“LNG supply is expected to expand in the second half of 2024 and across 2025. Our forecasts for LNG spot prices are unchanged this month – we expect prices to average US$11.0/mmbtu in 2024 before edging down to US$10.5/mmbtu in 2025.”
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FXStreet Insights Team
FXStreet
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