LNG imports to Europe could reach a record high in January with the ICIS TTF near curve trading at a rising premium to the ICIS East Asia LNG Index.
A total of 5.1m tonnes has arrived into European terminals by 17 January, according to ICIS LNG Edge.
A further 53 vessels have been confirmed into European terminals by the end of January.
This could take LNG supply above 8m tonnes this month.
The previous record was 8.1m tonnes in March 2021.
LNG send out was 22.6% of total European gas supply in December 2021 and this share is likely to rise in January, offsetting Russia’s falling pipeline gas share.
It’s driven by high US LNG supply to Europe – and a further sign of spot/ flexible LNG moving quickly to the higher priced global market.
It’s a complete reverse from January 2021 when Asia pulled LNG away from Europe, and when European gas stocks were much higher.
Where next for European LNG imports?
Source: Ed COX, ICIS Global LNG (LinkedIn)
