November 09, 2022 10:53 GMT
EU LNG Imports Increase After October Dip
Net imports to NW Europe reached the highest since April on Friday last week at nearly 289mdm/d.
- Total European LNG imports have average 420mcm/d since mid last week compared to around 373mcm/d over the previous week.
- The front month JKM-TTF spread is back out to -6.5$/mmbtu from a slight premium to JKM at the end of October. JKM has continue to drift lower and the decline in TTF has slowed.
- The December US LNG netback to Europe is down to 27.1$/mmbtu but the netback to Asia is also lower at 19.52$/mmbtu.
- TTF DEC 22 down -2.2% at 115.55€/MWh
- NBP DEC 22 down -1% at 281.09p/th
- JKM Dec 22 up 2.5% at 27.88$/mmbtu
- JKM-TTF Dec 22 up 1.1$/mmbtu at -6.37$/mmbtu
- US Natgas DEC 22 up 0.7% at 6.18$/mmbtu
Source: MNI / Bloomberg
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