Commodity Market Report
LNG short-term outlook: May 2022
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Report summary
European gas prices remain volatile but have been gradually trended downwards to $29/mmbtu (25 April) as abundant gas and LNG imports are increasingly pushed into storage. Transmission bottlenecks between UK-Europe have created a sizable NBP to TTF discount. Further TTF decline will be slowed by the elevated coal-switching band due to ARA thermal coal prices remaining above $300/ton. Weak China LNG demand has resulted in a long APAC balance, forcing a negative price spread to the Atlantic.
Table of contents
- Lack of cargo slots in NW Europe keeps pressure on on-water LNG prices
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