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EU LNG Imports Increase After October Dip

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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

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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

Keep reading...Show less