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US Suppling Half of LNG to NW Europe This Month

LNG

Half of the LNG supply to Europe this month originates from US with 18 cargoes already arrived or are due to arrive in to NW Europe.

  • In total another 24 cargoes are currently expected in to NW European terminals this month in addition to the 12 already arrived.
  • Gas deliveries to US LNG export terminals are currently restricted due to outages and maintenance at Freeport, Cove Point and Sabine Pass.
  • Net imports in to Europe are still strong with high European prices maintaining flows in preference to Asia. Total net flows from EU terminals were at 392mcm/d on Oct 4 with flows from NW strong at over 220mcm/d.
    • TTF NOV 22 down -7.6% at 162.29€/MWh
    • NBP NOV 22 down -11.9% at 286.27p/th
    • JKM Nov 22 up 2.3% at 35.86$/mmbtu
    • JKM-TTF Nov 22 up 2.8$/mmbtu at -10.14$/mmbtu
    • US Natgas NOV 22 down -3% at 6.77$/mmbtu

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