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US LNG More Profitable to Asia in Dec-Feb

LNG

US LNG exports are currently more profitable to Asia in December, January 2024 and February 2024 according to BNEF.

  • The US LNG netback to Europe is currently $12.67/MMBtu in December, from $12.68/MMBtu yesterday.
  • The US LNG netback to Asia is currently $13.64/MMBtu for December, up from $13.56/MMBtu the day prior.
    • JKM Nov 23 down -1.5% at 17.87$/mmbtu
    • JKM-TTF Nov 23 up 0.5$/mmbtu at 3.02$/mmbtu
  • High North Asian LNG spot prices are set to decline amid declining demand from China and Japan.
  • Current high prices levels are too high for spot procurement from China that has capacity to purchase more cargoes according to traders.
  • Milder weather and increased coal use in power generation could cap a rebound in China’s natural gas use, officials from top importers said on Thursday.

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