European natural gas fell after the US said it will send more LNG
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๐ข White House said it will strive to send additional 15bcm of US LNG to Europe this year (Europe has said it needs 50bcm more LNG to quit Russian gas)
๐ Dutch TTF futures fall 9%
bloomberg.com/news/articles/โฆ
๐บ๐ธ๐ค๐ช๐บ
๐ข White House said it will strive to send additional 15bcm of US LNG to Europe this year (Europe has said it needs 50bcm more LNG to quit Russian gas)
๐ Dutch TTF futures fall 9%
bloomberg.com/news/articles/โฆ
HOWEVER, it is still unclear how the US will be able to send more LNG to Europe
โ Nearly all US LNG tied up in long-term contracts
โ US LNG plants already running at max capacity
โ New supply will take years to come online
โ Nearly all US LNG tied up in long-term contracts
โ US LNG plants already running at max capacity
โ New supply will take years to come online
TL;DR: It is unlikely that the US can significantly ramp-up exports to Europe
But it is likely that European utilities will sign more deals with future US LNG export projects (that will come online from 2025)
But it is likely that European utilities will sign more deals with future US LNG export projects (that will come online from 2025)
https://twitter.com/SStapczynski/status/1507179002079084547
European natural gas futures erased losses and are now up 1.3%
The market is realizing that the US has little ability to boost LNG exports to Europe in the short term
The market is realizing that the US has little ability to boost LNG exports to Europe in the short term
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