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Asia Remains Most Profitable Market for Prompt US LNG

LNG

Asia remains the most profitable market for exports of US LNG in September and October, according to BNEF, despite the falling JKM-TTF spread.

  • The front month JKM-TTF spread has closed from around +2.5$/MMBtu to around +0.5$/MMBtu over the last week as TTF has rallied.
  • The current netback for selling a US cargo in Asia stands at a 16 cents/MMBtu premium over Europe for September deliveries, and 28 cents/MMBtu for October
  • Europe becomes the premium market in November, with a netback premium of 85 cents/MMBtu.
  • Prompt LNG demand remains muted in Europe amid high gas storage levels, while Asian demand has also been subdued. However, Australia LNG export maintenance may add some additional supply tightness in the later, giving support to prices.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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