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EU Maintains Strong LNG Imports

LNG

LNG imports to Europe are still strong averaging over 370mcm/d last week.

  • NW Europe is currently expecting 18 more LNG tankers to arrive in the first 2 weeks of October.
  • With TTF trading above other global markets the spreads encourage flows into Europe. The current November US LNG netback to Europe is at 46.11$/mmbtu while the netback to Asia is down to 29.94$/mmbtu.
    • TTF NOV 22 down -6.1% at 177.24€/MWh
    • JKM Nov 22 down -5.8% at 38.73$/mmbtu
    • JKM-TTF Nov 22 down -6.2$/mmbtu at -12.38$/mmbtu
    • US Natgas NOV 22 down -3.1% at 6.56$/mmbtu

Source: Bloomberg

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