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Spreads Maintain Strong EU LNG Imports

LNG

LNG imports to Europe gradually increasing and up to 205mcm/d

  • TTF prices have just turned negative today with Russia supplies steady and LNG imports assisting injections in to storage. TTF SEP 22 down -0.9% at 197.5€/MWh
  • The seasonal imports are normally below 55mcm/d in this period during the summer.
  • 16 LNG cargoes are expected to arrive into NW Europe in the next 12 days
  • The JKM spread to TTF has narrowed slightly to -14.5$/mmbtu but remains below the Europe benchmark until the end of 2024.
  • The US LNG netback to Europe for September is 49.62$/mmbtu while the netback to Asia is estimated at 34.39$/mmbtu.

Source: Bloomberg

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LNG imports to Europe gradually increasing and up to 205mcm/d

  • TTF prices have just turned negative today with Russia supplies steady and LNG imports assisting injections in to storage. TTF SEP 22 down -0.9% at 197.5€/MWh
  • The seasonal imports are normally below 55mcm/d in this period during the summer.
  • 16 LNG cargoes are expected to arrive into NW Europe in the next 12 days
  • The JKM spread to TTF has narrowed slightly to -14.5$/mmbtu but remains below the Europe benchmark until the end of 2024.
  • The US LNG netback to Europe for September is 49.62$/mmbtu while the netback to Asia is estimated at 34.39$/mmbtu.