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More vessels and strong spreads maintain European LNG imports

LNG
BulletEnergy BulletsCommoditiesEurope

LNG flows into Europe look set to remain healthy on expected tankers and encouraging spreads.

  • At least 15 more LNG vessels are expected into NW Europe by the end of the month according to Bloomberg LNG tracker.
  • LNG imports into NW and Eastern Europe have been increasing all year to the latest weekly average of 284k tonnes.
  • JKM spread to TTF has closed in last couple of days, but JKM remains at a strong discount of -5$/mmbtu to TTF. The spread has been as high as -10$/mmbtu on a couple of occasions this month.
  • The Jul22 US netback to Europe is currently 20.9$/mmbtu compared to 11.74$/mmbtu to Asia according to Bloomberg data. The spreads look in favour of flows to Europe throughout the summer.
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LNG flows into Europe look set to remain healthy on expected tankers and encouraging spreads.

  • At least 15 more LNG vessels are expected into NW Europe by the end of the month according to Bloomberg LNG tracker.
  • LNG imports into NW and Eastern Europe have been increasing all year to the latest weekly average of 284k tonnes.
  • JKM spread to TTF has closed in last couple of days, but JKM remains at a strong discount of -5$/mmbtu to TTF. The spread has been as high as -10$/mmbtu on a couple of occasions this month.
  • The Jul22 US netback to Europe is currently 20.9$/mmbtu compared to 11.74$/mmbtu to Asia according to Bloomberg data. The spreads look in favour of flows to Europe throughout the summer.