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LNG: European Regas Utilisation Shows Signs of Aug. Recovery: Timera

LNG

The recent TTF rally due to Sudzha supply concerns has helped divert more cargoes to Europe in August, causing an uptick in European sendout, according to Timera Energy.

  • This could help to boost regasification utilisation rates over the month.
  • Utilisation has been on the decline since mid-2023 due to a weak European gas demand recovery and a strong build in additional regasification capacity.
  • Utilisation also fell further to the bottom of the 2018-2021 range in July, a decline of 27% year on year and 42% vs July 2022. This is due to high storage levels and weak demand ahead of winter.
  • European LNG regas utilisation reached record levels in 2022 following Russia’s invasion of Ukraine.
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