LNG: LNG Arbs Shifting To Asia After Recent TTF Declines
Mar-13 14:02
TTF declines have shifted the global LNG arb to Asia, according to Spark Commodities.
- Declines in TTF prices have seen the SparkNWE DES LNG price drop by around $4/MMBtu (23%) in the last 4 weeks.
- This has caused an increase in global arbs, with Qatari arbs strongly signalling to Asia and the Nigerian arb marginally also pointing to Asia, Spark Commodities said.
- The US arb via COGH remains pointing to Europe but has significantly narrowed.
- Yesterday’s TTF rally has stalled the increase in global arbs, with the Nigerian arb almost at breakeven levels after opening up last week.
Source: Spark Commodities
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