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US LNG More Profitable To Europe: BNEF

LNG

US LNG exports are currently most profitable when headed to Europe in September and November, and to Asia in October, according to BNEF

  • The US LNG netback to Europe in September is currently $8.19/MMBtu, up 3.7% from August 11. This compares to $7.18/MMBtu for Asia.
  • In October, the netback to Europe is $9.33/MMBtu, compared to $9.62/MMBtu for Asia. Europe becomes the premium market again in November, but Asia netbacks are more favourable from December – February.
  • LNG prices were boosted in both regions by concerns that around 10% of LNG supply may be impacted by potential industrial action in Australia. This would force Asia buyers to outbid Europe for the remaining spot cargoes available.
  • The JKM-TTF spread between the regions for September is currently down -0.3$/mmbtu at -0.76$/mmbtu.
  • Australia’s Fair Work Commission cleared the way for Chevron workers to vote for industrial action, while officials from both Chevron and Woodside Energy are scheduled to meet with union leaders for negotiations Aug. 15.
Energy BulletsPower BulletsCommoditiesUS
Energy BulletsPower BulletsCommoditiesUS

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