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March NW Europe LNG Arrivals Expected to Most Since December

LNG

LNG shipments into NW Europe are expected to be higher in March than in Jan and Feb. The region is expected to receive 82 cargoes in the whole of March compared to 68 in February and 79 in Jan according to Bloomberg tanker tracking data. A record 90 cargoes arrived into NW Europe in December.

  • A total of 57 tankers have already arrived into NW European ports so far in March and another 25 are current scheduled before the end of the month.
  • Total European LNG sendout was back over 400mcm/d to around 423mcm/d on 19 Mar supported by the return of Dunkerque LNG last week with the other three French terminals expected to resume tomorrow.
  • Competition for LNG supplies from Asia could provide upside price risk to European gas markets with supplies needed to restock storage to above 90% before next winter. Spreads are currently stable but lower prices this year has increase some buying interest from South Asian nations. Thailand’s PTT is seeking to buy 16 cargoes for May to Dec delivery in a tender which closes on 24 March.
    • TTF APR 23 up 1.8% at 40.02€/MWh
    • NBP APR 23 up 2.1% at 96.3p/th
    • JKM Apr 23 down -0.2% at 13.16$/mmbtu
    • JKM-TTF Apr 23 down -0.1$/mmbtu at 0.82$/mmbtu
    • US Natgas APR 23 up 0.4% at 2.23$/mmbtu
Energy BulletsCommodities
Energy BulletsCommodities

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