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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Liquefied Natural Gas Limited    LNG   AU000000LNG0

LIQUEFIED NATURAL GAS LIMITED

(LNG)
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End-of-day quote. End-of-day quote Australian Stock Exchange - 04/29
0.043 AUD   0.00%
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Goldman forecasts 'perfect storm' for global gas markets

01/13/2021 | 06:51am EST
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the NYSE in New York

(Reuters) - Goldman Sachs raised its forecasts for key natural gas price benchmarks on Wednesday, saying falling supplies and colder weather in Asia and Europe made for a "perfect bullish storm".

It sees European balances even tighter on colder weather revisions in North-Western Europe and a deeper-than-expected drop in NW European Liquefied Natural Gas (LNG) deliveries.

Goldman lifted its Dutch Title Transfer Facility (TTF) gas price forecasts for the rest of the winter, and calendar years 2021 and 2022, to $8.30 per one million British thermal units (mmBtu), $6.72/mmBtu and $6.48/mmBtu from $6.65, $5.63 and $6.03 previously.

The European benchmark Dutch month-ahead gas contract retreated slightly on Wednesday from an over two-year peak scaled in the previous session.

While Goldman expects tightness in coal markets to moderate from the summer, it sees a slower-than-expected return of Colombian coal supplies, implying higher TTF gas prices later.

"We also raise our 2021/22 winter, 2022 summer and 2022/23 winter TTF forecasts to $6.60/mmBtu, $6.30/mmBtu and $6.90/mmBtu from $5.95, $5.85 and $6.75 previously," the bank said.

Supply disruptions, shipping delays and strong LNG demand, supported by heavy nuclear maintenance in Japan and a cold start to 2021 in North-Eastern Asia, have significantly tightened the market, Goldman analysts said in a note.

The bank also raised its Japan Korea Marker (JKM) forecasts for balance of winter for 2020/21, and calendar years 2021 and 2022, to $14.30/mmBtu, $8.73/mmBtu and $7.85/mmBtu from $12.65, $7.56 and $7.37 previously.

Goldman reiterated its expectation for a significant upside to NYMEX gas prices this summer to help correct what it sees as a 2.5 billion cubic feet per day market imbalance through October 2021, and maintained its $3.25/mmBtu 2021 summer U.S. gas price forecast.

(Reporting by Bharat Govind Gautam in Bengaluru; Editing by Alexander Smith)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LIQUEFIED NATURAL GAS LIMITED 0.00% 0.043 End-of-day quote.0.00%
THE GOLDMAN SACHS GROUP, INC. 0.01% 289.39 Delayed Quote.9.73%
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Financials
Sales 2019 - - -
Net income 2019 -33,5 M -25,8 M -25,8 M
Net cash 2019 19,8 M 15,2 M 15,2 M
P/E ratio 2019 -3,98x
Yield 2019 -
Capitalization 24,8 M 19,1 M 19,1 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 83,6%
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Managers and Directors
NameTitle
Gregory M. Vesey Chief Executive Officer & Managing Director
John G. Baguley Chief Operating Officer
Michael Reed Mott Chief Financial Officer
D. Michael Steuert Independent Non-Executive Director
Rose Haddon Secretary & Director
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