US LNG to Europe

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US LNG cargo oversupply to Europe mounted in August, trade-flow data shows…
Nearly 60% of US LNG cargoes delivered in August landed in Europe as the Continent filled up storage to prepare for peak winter demand amid ongoing reductions in Russian pipeline gas, an S&P Global Commodity Insights analysis showed…

The volume of LNG cargoes heading to Europe in recent months has, at times, been more than importing countries needed, resulting in a mismatch that has caused prices for waterborne LNG to further decouple from inland gas. Platts DES Northwest Europe for October was assessed Sept. 2 at a $19.05/MMBtu discount to the Dutch TTF hub front-month price.

“You could barely trade October at the moment unless Asia starts buying a lot and TTF-JKM closes,” said an Atlantic-based LNG trader. “It’s hard enough trading two weeks ahead at the moment. People will hold off buying winter as long as they can.”