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NWE LNG Summer 25 Forward Price Highest Since Jan: Platts

LNG

The NWE LNG Summer 2025 forward price rose to its highest level since Jan at $12.906/MMBtu, according to Platts.

  • The strengthening follows concerns of potential supply tightness during this period next year.
  • Supply concerns are mounting after delays to the Golden Pass LNG, LNG Canada, and Energia Costa Azul LNG projects, likely reducing potential supply to Europe by 8m mt for both 2025 and 2026, Platts said.
  • This could leave NWE susceptible to a price uplift next year, especially as Ukraine does not intend to renew the gas transit deal with Russia’s Gazprom, potentially cutting off around 40 mcm/d of supply.
  • However, the price rises are not guaranteed, as weaker Asian demand over winter and any improvement in the supply prospects could add downward pressure.
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