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NWE LNG Forward Curve Climbs to Multi Month Highs: Platts

LNG

The Northwest Europe forward curve, which prices 11 month out, has risen steadily over the past month and a half, with some month hitting multi-month peaks, Platts said.

  • May has reached its highest level since March 26 at $8.632/MMBtu, while June is at its highest since Jan. 31, and August it’s highest since March 15.
  • The May-September structure, covering Q2 and Q3, had previously been seen as flat by traders due to tepid demand.
  • Traders told Platts that they expect buying activity to be spread throughout Q2 and Q3 for injection season, with growing confidence in Europe’s winter supply.
  • However, some support to those months may come from price competition between the Atlantic and Pacific for marginal LNG cargoes.
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