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LNG: East Med LNG Hits 2-Month Low v TTF: Platts

LNG
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East Med LNG Fell to a two-month low vs TTF as the hub balanced out with strong with strong gas inventories and healthy LNG supply head of winter, Platts said.

  • DES East Med was assessed at a 4.5 cents/MMBtu premium over TTF, the lowest since July 25.
  • East Med has been a premium market against the rest of Europe amid Suez shipping constraints and lower MENA supplies.
  • However, the region has been able to stock up on LNG cargoes and relatively cheaper inland pipeline gas ahead of winter.
  • Consequently, LNG imports have started to trend downwards to 830k mt in September to date, roughly stable on the year. Only Italy is seen importing further volumes in September.
  • Gas storage is high in the region, reducing demand for LNG.

 

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East Med LNG Fell to a two-month low vs TTF as the hub balanced out with strong with strong gas inventories and healthy LNG supply head of winter, Platts said.

  • DES East Med was assessed at a 4.5 cents/MMBtu premium over TTF, the lowest since July 25.
  • East Med has been a premium market against the rest of Europe amid Suez shipping constraints and lower MENA supplies.
  • However, the region has been able to stock up on LNG cargoes and relatively cheaper inland pipeline gas ahead of winter.
  • Consequently, LNG imports have started to trend downwards to 830k mt in September to date, roughly stable on the year. Only Italy is seen importing further volumes in September.
  • Gas storage is high in the region, reducing demand for LNG.

 

Keep reading...Show less