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European LNG-Henry Hub spread Climbs to 7-Week High: Platts

LNG

LNG Prices across Europe have climbed to a near 7-week high against Henry Hub, boosting the regions attractiveness for US cargoes, according to Platts.

  • NWE LNG is now at a $6.529/MMBtu premium over Henry Hub, the highest since Jan. 31.
  • The prices come as Europe prepares for injection season. This could add a bullish wave to a relatively weak market, Platts said.
  • European prices are currently climbing faster than those in the US, which could pull additional volumes to Europe.
  • Traders told Platts that the US-Far East arbitrage could also widen, which may counter the pull for cargoes into the Atlantic.
  • Looking at US production, total feedgas flows to US LNG export terminals are today up to 13.35bcf/d according to Bloomberg but remain below normal.
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