Commodity Market Report

LNG short-term trade and price outlook (Q2 2024)

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European TTF prices have continued their rally in May, reaching around $11/mmbtu. Geopolitical risks – including future flows from Russia to Europe – have increased the risk premium, in addition to unplanned maintenance. Northwest European LNG prices have diminished their discount to TTF, in line with little competition for marginal regas slots in continental Europe. Some competition has emerged in Asia for prompt procurement, keeping Asian LNG prices at a premium to NW Europe of around $1/mmbtu. This is consistent with the shipping cost from the Atlantic into the Pacific basin.

Table of contents

  • Prices soften further as shoulder season demand struggles to emerge

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  • Document

    LNG Short Term Outlook Q2 2024.pdf

    PDF 1.66 MB

  • Document

    Short Term Outlook (Data) Q2 2024.xlsx

    XLSX 273.92 KB