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NWE LNG Imports Sink in April: Platts

LNG
Energy BulletsCommoditiesUKBank Of England (BOE) Market News

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.

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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.

Keep reading...Show less