US LNG exports are still more profitable to Asia over Europe throughout the summer period according to BNEF as Asian LNG prices followed a surge in European gas prices yesterday.

• The US netback to Asia for May is 7.72$/mmbtu and to Europe is 6.94$/mmbtu.
• LNG prices in Asia rose above $10/mmbtu for the first time since January according to Bloomberg.
• The number of US LNG export cargoes fell to 22 last week from 25 the previous week with a total vessel capacity of 75bcf according to the EIA based on Bloomberg shipping data.
• Average natural gas deliveries to US LNG export terminals increased by 1.2% (0.1bcf/d) from last week, averaging 12.6bcf/d driven by and increase in deliveries to terminals in South Texasa and outside the Gulf Coast but with drop in deliveries to terminals in South Louisiana, according to data from S&P Global Commodity Insights.
• US terminal feedgas flows have however fallen further in recent days to 11.96bcf/d today according to Bloomberg with supply to Freeport down at just 0.115bcf/d.
  • TTF May 24 up 1.6% at 29.85€/MWh
  • JKM May 24 up 0.8% at 10.65$/mmbtu
  • JKM-TTF May 24 down 0$/mmbtu at 1.31$/mmbtu
  • US Natgas May 24 down 0.2% at 1.76$/mmbtu