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Decline in European LNG Imports amid French Strikes and Warmer Weather

LNG

LNG sendout to NW Europe has dropped from a peak of 355mcm/d on 28 Feb down to 199mcm/d on 14 March with the return of warmer weather to NW and central Europe and with delays and diversion impacting French impacting imports.

  • LNG supplies into France are still disrupted with at least seven vessels heading to French LNG terminals diverted to other European terminals and others waiting outside port due to strike action. Strikes at the three facilities operated by Elengy are scheduled until 21 March with Dunkerque expected until 17 March.
  • Total European net import flows fell as low as 344mcm/d on 12 March and the lowest since October before picking back up to 379mcm/d on 14 March.
  • TTF APR 23 down -1.6% at 42.23€/MWh
  • TTF SUM 23 down -1.6% at 43.14€/MWh
  • TTF WIN 23 down -1.2% at 50.33€/MWh


Source: MNI / Bloomberg

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