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US LNG Heading to Europe Despite Favourable Asia Arb: Platts

LNG

Marginal volumes of US LNG are still heading to Europe, despite the arbitrage economics favouring Asia, amid delays at the Panama Canal, Platts said.

  • Backlogs and limited slot availability at the Panama Canal, with waiting times from 5-15 days, have caused the flow of new product to make its way towards Europe rather than Asia, Platts added.
  • Platts added that freight congestions in the USGC and Panama Canal could impact the volume of LNG entering the market, despite a recent ramp up of US production.
  • While traders expect price-competition between the basins for winter spot volumes, milder weather in both continents has kept a lid on demand for additional US cargoes.
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