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Strong US LNG Supplies to EU Including to Eemshaven

LNG

Europe is currently scheduled to receive 22 more LNG cargoes before the end of the month with 12 coming from US.

  • Two of the cargoes are expected into the new LNG terminal at Eemshaven in the Netherlands on Sep 19. The new terminal is one of many new FRSU facilities due across Europe as they attempt to secure supplies away from Russia.
  • TTF prices are still above levels in Asia despite the recent pull back. The front month JKM-TTF has closed but is still at -8$/mmbtu. The estimated US LNG netback to Europe is down to 47.92$/mmbtu but still above the netback to Asia at 42.39$/mmbtu.
  • Strong demand is maintaining Asian pries while plans for EU intervention into European energy markets has brought TTF back down from the record highs.
    • TTF OCT 22 up 4.2% at 207€/MWh
    • JKM Oct 22 up 5% at 53.04$/mmbtu
    • JKM-TTF Oct 22 up 1.2$/mmbtu at -7.83$/mmbtu
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