MNI BRIEF: China Q2 GDP Impacted By Bad Weather - NBS

MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1313 MON VS 7.1315

Greenback Reverses Opening Gains, AUDNZD Prints Fresh Cycle Highs

Industrial Production Fell Less Than Expected

MNI: EUROZONE MAY IP -0.6% M/M, -2.9% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EU Needs More Flexible LNG Supply as Demand Rises: BNEF

LNG
Energy BulletsCommoditiesUS

Europe will need to attract more ‘flexible’ LNG this summer as supply agreements expire, according to BNEF.

  • Flexible imports are also likely to increase into winter 2024/25 and in summer 2025 as European LNG demand rises.
  • Global flexible LNG supply is estimated at 48.4m metric tons in summer 2024 and Europe will need 61% of global flex during winter 2024/35.
  • New US projects will be critical to meet LNG demand in Europe with 35.9m metric tons forecast have no destination restrictions in summer 2025. Destination free Qatar supply will also increase next summer as contracts expire.
  • Europe will be sensitive to delays in US supply and any lower availability of flexible LNG supply, raising competition between Europe and Asia.
  • Asia is also seen increasing its reliance on flexible LNG mainly due to higher demand but increase global supply will help to limit global competition. Mainland China’s LNG imports will likely increase over the next three seasons but Japan has excess contract supply over demand.

Keep reading...Show less
165 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Europe will need to attract more ‘flexible’ LNG this summer as supply agreements expire, according to BNEF.

  • Flexible imports are also likely to increase into winter 2024/25 and in summer 2025 as European LNG demand rises.
  • Global flexible LNG supply is estimated at 48.4m metric tons in summer 2024 and Europe will need 61% of global flex during winter 2024/35.
  • New US projects will be critical to meet LNG demand in Europe with 35.9m metric tons forecast have no destination restrictions in summer 2025. Destination free Qatar supply will also increase next summer as contracts expire.
  • Europe will be sensitive to delays in US supply and any lower availability of flexible LNG supply, raising competition between Europe and Asia.
  • Asia is also seen increasing its reliance on flexible LNG mainly due to higher demand but increase global supply will help to limit global competition. Mainland China’s LNG imports will likely increase over the next three seasons but Japan has excess contract supply over demand.

Keep reading...Show less