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Strong LNG into Europe as TTF Maintains Premium

LNG

European gas markets are maintaining a premium over Asian markets with LNG flows required to replace missing pipeline flows.

  • The US LNG netback to Europe is currently estimated at 54.30$/mmbtu compared to 31.72$/mmbtu to Asia. The netback to Europe is at least 10$/mmbtu higher than to Asia throughout the coming winter period.
  • Total LNG imports into Europe are just under 400mcm/d with imports into NW Europe up to 245mcm/d. Another 21 LNG cargoes are expected into NW Europe by Oct 13.
  • TTF OCT 22 down -7.6% at 191.4€/MWh
  • NBP OCT 22 down -15.3% at 272.5p/th
  • JKM Oct 22 down -3% at 41.21$/mmbtu
  • JKM-TTF Oct 22 up 2.1$/mmbtu at -13.15$/mmbtu
  • US Natgas NOV 22 up 2.1% at 7.1$/mmbtu

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European gas markets are maintaining a premium over Asian markets with LNG flows required to replace missing pipeline flows.

  • The US LNG netback to Europe is currently estimated at 54.30$/mmbtu compared to 31.72$/mmbtu to Asia. The netback to Europe is at least 10$/mmbtu higher than to Asia throughout the coming winter period.
  • Total LNG imports into Europe are just under 400mcm/d with imports into NW Europe up to 245mcm/d. Another 21 LNG cargoes are expected into NW Europe by Oct 13.
  • TTF OCT 22 down -7.6% at 191.4€/MWh
  • NBP OCT 22 down -15.3% at 272.5p/th
  • JKM Oct 22 down -3% at 41.21$/mmbtu
  • JKM-TTF Oct 22 up 2.1$/mmbtu at -13.15$/mmbtu
  • US Natgas NOV 22 up 2.1% at 7.1$/mmbtu

Keep reading...Show less