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LNG
European LNG-TTF spreads have trended closer to pipeline gas hub levels as the market shies away from supplying cargoes to Europe and faces competition from Asia, Platts said.
- The DES NWE LNG price for August was assessed at a 2.5 cents/MMBtu discount to TTF, Platts said August 25.
- These are the narrowest discounts seen since August 2023 when LNG in NWE was flat to TTF.
- The narrow LNG-TTF spread has dampened buying interest across the continent, as it lowers the profitability for buyers of LNG who then sell at the gas hub price in Europe.
- European LNG imports stand at 6.12m mt so far in June, Platts said. This is around 77% of May’s levels, which was the lowest since Sep. 2023.
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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