Apr. 14 at 4:13 PM
Since Iran War began:
Henry Hub up +7%
JKM (Asia) up +78.3%
TTF (Europe) up +21.8%
Europe's storage remains roughly 28% full - historically low
Most Northeast Asian countries maintain "operational" storage designed for 10–30 days of typical consumption
- Japan: 21 days
- S/Korea: 20-25 days
- China: 60 days
- Taiwan: 11 days
- Bangladesh: 9-14 days
- India: 10-12 days
Nearly 19% to 20% of global LNG supply was removed from the market due to the blockade of the Strait of Hormuz & missile strikes on Qatar’s Ras Laffan Industrial City (repairs expected to take 3 to 5 years)
$VG primary beneficiary of spot prices (30% of output)
$LNG 6% of output at spot
Begin to build position
