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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
US LNG exports to Europe recovered in the week ending March 13 to 26 cargoes compared to 23 the week before, according to the EIA despite ongoing curtailment to supplies to US LNG export terminals.
- The cargoes have a total capacity of 87bcf according to Bloomberg shipping data.
- Average natural gas deliveries to US LNG export terminals decreased by 1.3% w/w to average 13.3bcf/d, according to S&P Global Commodity Insights.
- US LNG exports are slightly more profitable to Asia over Europe for April and throughout the remainder of the summer period according to BNEF. The US netback to Asia for April is 6.24$/mmbtu and to Europe is 6.11$/mmbtu.
- A total of 23 LNG cargoes arrived into NW Europe between Mar. 1 - 12 according to Bloomberg with another 23 scheduled before the end of the month. Total arrivals during February were 60 cargoes.
- European LNG sendout was down at 330mcm/d on Mar. 12 compared to an average so far in March of nearly 360mcm/d.
- Concern for LNG supplies to Europe from US and competition from Asia have combined with cooler weather later in March to reverse a previous decline in TTF front month back to near flat on the week.
- TTF APR 24 up 2.7% at 26.75€/MWh
- TTF SUM 24 up 2.4% at 26.97€/MWh
- TTF WIN 24 up 1.7% at 30.72€/MWh
- TTF SUM 25 up 1.6% at 29.2€/MWh
Source: MNI / Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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