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LNG
European imports fell to a 34-month low in July as demand remained soft, according to Kpler.
- The EU-27 imported just 6.11m mt in July, the lowest since Sep. 2021.
- This is down 8% on the month and down 26% on the year.
- France and the Netherlands saw the largest declines, with their imports down 22% and 17% respectively.
- However, Italy’s imports surged by 28%, softening the overall losses.
- Higher TTF prices likely discouraged buying, Kpler said, especially as heat wave demand in Asia pulls marginal US cargoes.
- Germany LNG terminal operator DET saw its regasification capacity slots go unsold in July, demonstrating the weakness in demand.
- A lack of demand was also notable in the secondary market, with capacity holders struggling to sell regas slots.
Source: Kpler
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.
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