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US LNG More Profitable to Asia in Oct: BNEF

LNG

US LNG exports remain more profitable to Asia in October, while Europe has become the premium market for November and December, according to BNEF.

  • The US LNG netback to Asia in October is $11.24/MMBtu, a 20 cents/MMBtu premium over Europe.
  • In November, shipping a cargo to Europe earns a netback of $13.36/MMBtu, compared to $13.19/MMBtu for Asia.
  • December’s netback to Asia is $14.07/MMBtu, slightly below the $14.12/MMBtu for Europe.
  • The JKM-TTF Sep 23 is down -0.3$/mmbtu at 2.04$/mmbtu.
  • The US LNG netback calculation assumes a 15% premium to Henry Hub as the cost of liquefaction.
  • Volatile front month TTF has eased slightly after trading at a peak of 42.25€/MWh earlier this morning on global LNG supply risks from potential strikes in Australia.
    • TTF SEP 23 up 6.6% at 38.8€/MWh
    • TTF WIN 23 up 2.8% at 54.48€/MWh
    • TTF SUM 24 up 1.6% at 54.45€/MWh

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