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LNG: EU LNG Supply Set for ‘Material Increase’ In Coming Weeks: Axpo

LNG
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Switzerland-based trader Axpo expects a significant increase in LNG supplies to Europe in the coming weeks, driven by higher prices attracting additional cargoes, Platts reported.

  • Axpo predicts end-winter storage levels in the 30% range, creating a substantial gap to fill the EU's mandated target of 90% by Nov. 1.
  • "One way to address this challenge is by attracting additional LNG cargoes to Europe. Prices are already signaling this, and we expect a material increase in LNG arrivals at European shores during the coming weeks," Axpo said, cited by Platts.
  • Axpo said that windless, colder weather and the end of Russian gas deliveries via Ukraine led to the largest January withdrawal from EU storage since 2021.
  • The market remains concerned about summer storage filling due to an inverted summer-winter spread.
  • Axpo added that this has led to Germany and other countries to develop subsidy mechanisms to encourage gas storage.
  • Axpo anticipates a volatile gas market in the coming months due to Europe's storage requirements and regulatory uncertainties.
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Switzerland-based trader Axpo expects a significant increase in LNG supplies to Europe in the coming weeks, driven by higher prices attracting additional cargoes, Platts reported.

  • Axpo predicts end-winter storage levels in the 30% range, creating a substantial gap to fill the EU's mandated target of 90% by Nov. 1.
  • "One way to address this challenge is by attracting additional LNG cargoes to Europe. Prices are already signaling this, and we expect a material increase in LNG arrivals at European shores during the coming weeks," Axpo said, cited by Platts.
  • Axpo said that windless, colder weather and the end of Russian gas deliveries via Ukraine led to the largest January withdrawal from EU storage since 2021.
  • The market remains concerned about summer storage filling due to an inverted summer-winter spread.
  • Axpo added that this has led to Germany and other countries to develop subsidy mechanisms to encourage gas storage.
  • Axpo anticipates a volatile gas market in the coming months due to Europe's storage requirements and regulatory uncertainties.