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EU LNG Imports to NW and Iberia Increase

LNG

LNG imports to Europe increased back above 400mcm/d at the start of this week according to data from Bloomberg.

  • Flows had dipped over last weekend with lower net imports into NW Europe of just under 200mcm/d but recovered to 245mcm/d on Oct 3. LNG net imports in to Iberia have also picked up this week from 60mcm/d to around 90mcm/d.
  • US netbacks suggest continued flows to Europe with levels to both Europe and Asia just slightly lower today.
    • TTF NOV 22 down -2.7% at 169€/MWh
    • NBP NOV 22 down -2.7% at 307p/th
    • JKM Nov 22 down -8.2% at 35.05$/mmbtu
    • JKM-TTF Nov 22 down -1.7$/mmbtu at -14.28$/mmbtu
    • US Natgas NOV 22 up 1.4% at 7.03$/mmbtu

Source: MNI / Bloomberg

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