In this list
LNG | Natural Gas

European LNG delivered imports climb to 7.39 mil mt in November

Crude Oil | Natural Gas | Natural Gas (North America) | Upstream

Platts Upstream Indicator

Commodities | Crude Oil | Energy Transition | Shipping | Energy

Grangemouth’s closure: insights into the changing global refining landscape

Oil | Energy Transition | Energy

APPEC 2024

Natural Gas | Oil & Gas | Coal | Energy Transition | Crude Oil | Emissions

COP28: OPEC urges members to reject fossil fuel phaseout

Energy | LNG

Platts JKM™ (Japan Korea Marker) LNG Price Assessment

Crude Oil | Electric Power | Electric Power Electricity | Energy Transition | Carbon | Emissions | Renewables | LNG | Natural Gas | Natural Gas Shale Gas | Refined Products | Fuel Oil | Shipping | Bunker Fuel | Marine Fuel | Oil & Gas

Insight Conversation: Ezran Mahadzir, Petronas LNG

For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today.

Subscribe Now

European LNG delivered imports climb to 7.39 mil mt in November

Highlights

Imports up nearly 58% on week

Delays at Panama Canal continue

  • Author
  • Aly Blakeway
  • Editor
  • James Leech
  • Commodity
  • LNG Natural Gas

Delivered imports of LNG to Europe for November to date have risen to 7.39 million mt, according to data from S&P Global Commodity Insights as of Nov. 20.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The volume represents a jump of 2.7 million mt week on week to put it at around 76% of the level seen last month, which marked the highest monthly import total since May.

Reported volumes for November are headed to France (1.66 million mt), Spain (1.04 million mt), the UK (970,000 mt), the Netherlands (890,000 mt), Italy (700,000 mt), Belgium (640,000 mt), Sweden (400,000 mt), Poland (380,000 mt), Germany (210,000 mt), Portugal (140,000 mt), Lithuania (110,000 mt), Malta (70,000 mt) Croatia (70,000 mt), Greece (60,000 mt) and Finland (30,000 mt).

Most notably, the US is supplying just over 52% of the total, while Russia is supplying around 13% and Algeria contributing around 11%.

Lower temperatures

Although forecasts of cooler temperatures have heightened expectations in the market for rising demand toward the end of the month and into December, current temperatures remain relatively mild, cushioning prices.

Platts, part of S&P Global Commodity Insights, assessed the DES Northwest Europe Marker for January at $13.815/MMBtu Nov. 17, down 23.1 cents/MMBtu on the day but a 7.8 cents/MMBtu rise week on week.

Gas storage levels in the EU remain ample at 98.94% full as of Nov. 18, according to Aggregated Gas Storage Inventory data.

However, trading sources also highlighted the issue of continued delivery delays via the Panama Canal resulting in more US volumes being redirected away from Asia toward Europe.

"A shift in LNG trade flow over the past two years has helped keep Panama Canal congestion concerns at bay as the bulk of US LNG volumes have remained in basin," according to Andres Rojas, research and analysis associate director, and Theo Kassuga, analyst, at S&P Global Commodity Insights. "With Europe relying heavily on LNG to make up the shortfall in Russian pipeline gas, netbacks into the continent have been keeping pace with Northeast Asia, resulting in Europe attracting the bulk of US LNG volumes."