LNG short-term webinar: September 2022

In less than a month, European TTF prices have fallen 60% to around $50/mmbtu. With healthy storage levels, the European market is better prepared for winter, expecting market intervention and additional demand destruction. Northeast Asia is also entering the beginning of the heating season with robust stocks. Weather has become the largest uncertainty for this winter with risks around demand response and possible competition for spot cargoes. We expect European hub price spreads to TTF will reduce as gas demand for heating emerges, and Asian LNG prices will follow a similar path.