Commodity Market Report
LNG short-term outlook: June 2024
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Report summary
European TTF prices have remained broadly flat over June, despite more downtime at LNG plants and additional maintenance in Norway. Strong procurement in the Pacific basin has expanded the Asian LNG price premium to Europe, sitting at around $1.7/mmbtu at the end of June and incentivizing cross-basin flows. These dynamics have sharply decreased LNG volumes to Northwest Europe in June. Low utilisation of regas terminals has reduced the discount of Northwest European LNG DES prices versus European TTF to around $0.15/mmbtu, largely below the cost of primary regas capacity.
Table of contents
- Asian LNG demand strength is pushing European LNG imports down
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What's included
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