Med LNG Outright Prices Hit Monthly High to Henry Hub: Platts

LNG prices in the Mediterranean have climbed, pushing diffs to US Henry Hub to the highest since February and theoretically boosting attractiveness for US LNG cargoes.

• Platts assessed East Med LNG at $8.555/MMBtu March. 5, the highest since Feb. 2 and a 20 cents/MMBtu premium to NWE.
• Higher premiums have helped to attract further US volumes, Platts said.
• US volumes constituted 59% of imports in Feb, compared to 55% in Jan.
• However, some expect a further bearish outlook which may put pressure on prices.
• "I heard the lack of wind across Europe was pushing up gas to power [demand] but there are so many cargoes available," an LNG trader told Platts. "I don't see any reason for prices to stay at [this] level... There is no floor other than American gas [prices] but things could drop much more."