Asian LNG Records 755 Derivative Transactions as Atlantic-Pacific Arbitrage Collapses
The Asian Liquefied Natural Gas market posts a historic record on JKM derivatives with an eighteen-fold increase year-on-year, while physical volumes drop 23.4% and the spread with Europe turns negative.
| Countries | Chine, Inde, Japon, Corée du Sud, Qatar |
|---|---|
| Companies | Shell, TotalEnergies, PetroChina |
| Sector | Gaz |
| Theme | Marchés & Finance |
The Japan Korea Marker (JKM) derivatives market recorded 755 transactions for the February 2026 assessment period, a 50.3% increase from the previous month and an eighteen-fold rise year-on-year. This volume equates to approximately 25 million tonnes traded on the Intercontinental Exchange (ICE), according to available data. Meanwhile, physical trades on the Asian spot market (MOC) contracted to 2.08 million tonnes. The ratio between paper and physical volumes now exceeds levels observed on mature oil markets such as Brent or West Texas Intermediate (WTI).
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