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US LNG Now More Profitable to Europe: BNEF

LNG

US LNG exports are now more profitable to Europe in September, following price spikes in Europe during the week, according to BNEF.

  • The US LNG netback to Europe for September is currently $8.32/MMBtu, compared to $7.14/MMBtu for Asia.
  • Asia remains the best netback from October to February 2024 with netbacks steadily rising from $9.91/MMBtu in October up to $13.17/MMBtu in February.
  • Near term European LNG prices have surged, driven by concerns around ongoing maintenance from Norway, lower LNG cargo arrivals to the region, and uncertainty on whether potential strikes in Australia could tighten global LNG supply.

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