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LNG
NWE LNG imports in April dropped year on year as other premium markets drew cargoes away and tightened supply, Platts said.
- Imports of LNG into NWE were 5.21m mt in April, down 27.6% on the year, but up 7% on the month.
- France remained the top importer, taking 40% of the total, followed by the Netherlands at 30%.
- The UK saw its import levels down 83% on the year and 22% on the month at 392k mt in April, the lowest April since 2008.
- The US was the source of 57% of NWE’s supply, followed by Russia at 17%, and Algeria at 11%.
- NWE has been hit by a period of lower demand, with above-average inventory levels. NWE was also competing with atypical demand pockets such as Egypt and Latam, pulling cargoes out of Europe.
- Platts assessed DES June NWE LNG at a 25 cents/MMBtu discount to TTF.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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