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LNG: US LNG Netbacks Favour Asia in Jan: Bloomberg

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US LNG natural gas exports are currently more profitable to Asia in January and February, while Europe is the premium market in 2025, Bloomberg said.

  • The gas price spread between Asia and Europe is 56 cents/MMBtu in December.
  • The US netback for Europe is currently $10.86/MMBtu for January 2025, compared to $11.27/MMBtu for Asia.
  • In February, Asia has a netback of $11.28/MMBtu, compared to $11.13/MMBtu for Europe.
  • In March, Europe’s netback is $11.10/MMBtu, compared to $10.89/MMBtu for Asia.
  • As a caution to these calculations, the Asia netback that Bloomberg calculates includes a route from the USGC to Japan via the Panama Canal, which is a less common route at present compared to the Cape of Good Hope.
  • Bloomberg also assumed a loading the same month and does not account that the delivery month could roll over due to the shipping time. Hence Bloomberg’s calculations are more of a directional guide.
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US LNG natural gas exports are currently more profitable to Asia in January and February, while Europe is the premium market in 2025, Bloomberg said.

  • The gas price spread between Asia and Europe is 56 cents/MMBtu in December.
  • The US netback for Europe is currently $10.86/MMBtu for January 2025, compared to $11.27/MMBtu for Asia.
  • In February, Asia has a netback of $11.28/MMBtu, compared to $11.13/MMBtu for Europe.
  • In March, Europe’s netback is $11.10/MMBtu, compared to $10.89/MMBtu for Asia.
  • As a caution to these calculations, the Asia netback that Bloomberg calculates includes a route from the USGC to Japan via the Panama Canal, which is a less common route at present compared to the Cape of Good Hope.
  • Bloomberg also assumed a loading the same month and does not account that the delivery month could roll over due to the shipping time. Hence Bloomberg’s calculations are more of a directional guide.