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48
Volume
44
Issue
1
Nov.
2016 Dec.
Jan.
2017 Feb.
Mar.
Apr.
May June July Aug.
Sep.
Oct.
Nov.
Natural Gas
(2)
2.6 3.6 3.3 2.8 2.9 3.1 3.2 3.0 3.0 2.9 3.0 2.9 3.0
WTI Crude
(3)
7.9 9.0 9.1 9.2 8.6 8.8 8.4 7.8 8.1 8.3 8.3 8.9 9.8
1. British Thermal Unit.
2. Henry Hub spot price.
3. WTI – West Texas Intermediate Crude oil price, in dollars per barrel, is converted to dollar per million BTU using a conversion factor of 5.80
million BTU/bbl.
Source:
http://www.eia.gov/dnav/ng/hist/rngwhhdM.htmTable 5
Henry Hub Natural Gas and WTI Crude Average Spot Prices, 2016-2017
($/ Million BTU
1
)
II. The Natural Gas Market
1- Spot and Future Prices of Natural Gas in US market
The monthly average of spot natural gas price at the Henry Hub in
November 2017 increased by $0.13/million BTU comparing with the previous
month level to reach $3.01/million BTU.
The comparison, shown in
table (5)
, between natural gas prices and the
WTI crude reveal differential of $6.8/ million BTU in favor of WTI crude.
2- LNG Markets in North East Asia
The following paragraphs review the developments in LNG Markets in
North East Asia, concerning prices and Japanese, Chinese and South Korean
imports of LNG and their sources, and Spot LNG Exporters Netbacks.
2.1. LNG Prices
In October 2017, the price of Japanese LNG imports decreased by $0.3/
million BTU comparing with the previous month to reach $7.8 million BTU,
whereas the price of Chinese LNG imports increased by $0.26/million BTU
comparing with the previous month to reach $7.4/ million BTU, and the price
of Korean LNG imports remained stable at the same previous month level of
$8.1/ million BTU.
2.2. LNG Imports
Total Japanese, Korean and Chinese LNG imports from various sources,
increased by 7.1% or 821 thousand tons from the previous month level to
reach 12.464 million tons.
Table (6)
shows the prices and quantities of LNG imported by Japan, South
Korea, and China for the period 2015-2017.