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East Med LNG Strengthens Premium over NWE: Platts

LNG

LNG prices in the East Med have hit record levels against NWE, boosted by shipping constrains in the Red Sea and heatwaves in the region, Platts said.

  • The East Med currently stands at a 30 cents/MMBtu premium to NWE, the highest since Platts began assessing the region on Dec. 20.
  • Heatwaves have been boosting cooling demand which has driven up gas-fired power generation.
  • Imports into the East Med stood at 11 cargoes over Aug. 1-20, Platts added.
  • The East Med is seen at a premium over NWE throughout the winter as it is the most exposed to losing Russian gas, coupled with a lack of flows through Suez.
  • This is under the base assumption that Russian flows via Ukraine do not continue in 2025.
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