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LNG Imports to NW Europe At Record High

LNG

Net LNG imports into Europe were up near the highest seen this year on Monday Nov 21 at 465mcm/d with net imports to NW Europe at a record 313mcm/d. Recent cooler temperatures in NW Europe have seen an increase in gas demand after the early winter warm weather.

  • Europe is trying to increase import capacity as quickly as possible with a new Dutch terminal at Eemshaven and one at Hamina in Finland already online, and two terminals in Germany still expected online this winter.
  • The US LNG netback to Europe for January is currently estimated at 32.8$/mmbtu while the netback to Asia is 18.57$/mmbtu. The spreads remain firmly in favour of flows to Europe throughout the winter.

Source: MNI / Bloomberg

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