Free Trial
USDCAD TECHS

Bullish Outlook

AUDUSD TECHS

Trend Needle Still Points South

US

US-ASEAN Summit Concludes

CANADA

Risk-On Sentiment Dominates

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Spreads encourage LNG to Europe

LNG

NW Europe LNG continues running near capacity as a record amount of LNG arrives into European ports.

  • With European gas prices trading well above Asia, flows are expected to continue as Europe looks to LNG to replace Russia gas supply and fill storage ahead of next winter.
  • US LNG netback for June to Europe is currently 22.74$/mmbtu compared to 13.59$/mmbtu to Asia according to Bloomberg data.
  • The netbacks remain in favour of supply to Europe throughout the summer with Nov still 22.8$/mmbtu to Europe and 17$/mmbtu to Asia
  • The weekly average LNG imports into NW and Eastern Europe stand at 284k metric tonnes compared to a 5 year average of about 125k and up from about 150k at the start of the year.
  • Europe is relying on future LNG flows for security of supply. Germany have chartered 4 floating LNG terminals which would put them ahead of UK in LNG import capacity and only behind Spain in EU. The import capacity would cover about a third of Germany’s annual consumption with hope for operations to start at the end of the year.
182 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

NW Europe LNG continues running near capacity as a record amount of LNG arrives into European ports.

  • With European gas prices trading well above Asia, flows are expected to continue as Europe looks to LNG to replace Russia gas supply and fill storage ahead of next winter.
  • US LNG netback for June to Europe is currently 22.74$/mmbtu compared to 13.59$/mmbtu to Asia according to Bloomberg data.
  • The netbacks remain in favour of supply to Europe throughout the summer with Nov still 22.8$/mmbtu to Europe and 17$/mmbtu to Asia
  • The weekly average LNG imports into NW and Eastern Europe stand at 284k metric tonnes compared to a 5 year average of about 125k and up from about 150k at the start of the year.
  • Europe is relying on future LNG flows for security of supply. Germany have chartered 4 floating LNG terminals which would put them ahead of UK in LNG import capacity and only behind Spain in EU. The import capacity would cover about a third of Germany’s annual consumption with hope for operations to start at the end of the year.