LNG: Japan's Inpex Plans Expansion of LNG Supply
Feb-13 13:42
Japan oil and gas explorer, Inpex, is targeting a FID for Indonesia's Abadi LNG project in 2027, according to Reuters.
- The company aims to begin front-end engineering design for the Abadi project this year and with an aim for the start of production in the early 2030s.
- The target is part of a new three-year business plan through 2027 with efforts to expand LNG supply from 630k barrels of oil equivalent per day to 800k in the 2030s, including its Ichthys LNG project in Australia.
- Expansion of Ichthys LNG with the addition of a third train targets production in the first half of the 2030s.
- "Natural gas and LNG have a relatively low greenhouse gas emissions intensity compared to other fossil fuels and will play an increasingly important role as practical fuels in the energy transition," President Takayuki Ueda said.
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US DATA: Unrounded PPI Confirm Soft Report Vs Expectations
Jan-14 13:39
Unrounded December PPI figures look soft across the board vs expectations:
- PPI final demand 0.22% M/M (0.40% prior; 0.4% rounded expected)
- ex-food/energy 0.04% M/M (0.24% prior, 0.3% rounded expected)
- ex-food/energy/trade 0.07% M/M (0.11% prior, 0.3% rounded expected)
- No revisions to the unrounded Nov M/M figures
BUNDS: Moving off the lows with the EUR post US PPI
Jan-14 13:36
- Just a 16 ticks initial gain for Bund after the US PPI comes below consensus, still fairly limited moves in Europe, with the main focus on the US CPI Tomorrow.
- The EUR and Estoxx have also found bids post data, but they are slowly fading back.
US TSYS: Post-PPI React
Jan-14 13:33
- Treasuries gap higher after PPI data for December comes out lower than expected. Tsy Dec'25 10Y trades up to 107-18.5 (+11), well below initial technical resistance at 108-21.5/109-06 (20-day EMA / High Dec 31), before scaling back to 107-16.5 last
- Curves remain mixed, 2s10s -.380 at 39.263, 5s30s +2.110 at 38.411. 10Y yield slips to 4.7471% low.
