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US LNG More Profitable to Europe: BNEF

LNG

US LNG exports are now more profitable to Europe in October and November, surpassing Asia as the premium basin for the front months, according to BNEF.

  • Asia was the most profitable netback for from October-February based on prices Aug. 29. However, Asia’s profitability has been eroded by a narrowing JKM-TTF spread for October and November.
  • The US netback to Europe for October is currently $7.91/MMBtu, compared to $7.77/MMBtu for Asia.
  • In November, Europe earns a netback of $10.37/MMBtu compared to $10.28/MMBtu for Asia.
  • Asia becomes the most profitable netback again in December at $10.79/MMBtu, compared to $11.70/MMBtu for Europe.

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