Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
Europe is the destination for a larger share of WAF exports in August, despite favourable arbitrage economics to Northeast Asia, Platts said.
- This is due to relatively cheaper shipping costs and lower oil-linked contract prices to the Continent, sources told Platts.
- WAF LNG exports to Europe were 930k mt, or 13 cargoes, as of Aug. 25. 37% was headed to Europe, 23% to MENA, and 9% to North America. The remainder was yet to be nominated.
- In August 223, 810k mt (12 cargoes) of LNG was exported from WAF, with 74% going to Europe.
- However, the arbitrage economics out of Nigeria are stronger to Asia than to Europe and the East-West window is open.
- Yet, JKM is around a $1.241/MMBtu premium to NWE, but Nigeria-Asia freight rates are $1.21/Mmbtu more expensive than Nigeria-NWE.
- Nigerian oil linked supplies to Europe are also advantageous compared to current spot prices, Patts said.
Source: S&P Global Commodity Insights
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok