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EU LNG Imports Decline as Weather Warms

LNG

European LNG import volumes have reduced as warm weather returns to NW Europe.

  • Total European LNG sendout reached 479mcm/d on 23 Jan during the cold spell last week but has fallen back to just 414mcm/d on 28 Jan.
  • Competition from Asia for LNG supplies is an upside risk to European gas prices but continue warm weather is helping ease supply pressures.
  • Lower than expected demand due to warm weather and EU energy consumption reduction measures have eased tight supply concerns. The steady LNG supplies have helped European storage levels which are likely to end the season much higher than originally expected.
  • Another 22 LNG cargoes are currently expected into NW Europe terminals in the coming ten days. A record total of 90 cargoes arrived in December with more than half coming from US.


Source: MNI / Bloomberg

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