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European LNG-TTF Spread at Month Low amid Healthier Supply: Platts

LNG

LNG prices in NWE widened versus TTF to a month low, with traders citing improved cargo supply for the weakening, Platts said.

  • NWE LNG was at a 15 cents/MMBtu discount to TTF, the widest since May 29.
  • Traders told Platts that the arbitrage window between the US and Asia was closed, helping pull supply to Europe.
  • Demand in APAC is on hold due to the rainy season, although this is expected to receive a boost from additional heatwaves over the summer.
  • Meanwhile, healthy gas storage levels in Europe is also pressuring LNG demand during the summer restocking season.
  • Traders said the market remains structurally bearish, despite some vulnerability to supply-side shocks.

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