A look at the global natural gas and LNG markets by the numbers
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$8.90/MMBtu: The prompt Title Transfer Facility (TTF) could be reaching a floor as mild weather and abundant LNG supplies mix with Europe’s energy security requirements. Analysts with trading firm Mind Energy wrote in a market note that after weeks of sliding, Europe’s gas market has appeared to reach a structural bottom of $8.90. The January TTF contract rose slightly Wednesday to $9.38 on forecasts for average winter temperatures.10.74 Mt: Despite falling international prices and cooling demand, U.S. LNG exports could reach an all-time monthly high by the end of December, according to Kpler predictive data. U.S. exporters have shipped or are estimated to ship 10.75 Mt, an increase of 0.14 Mt over the monthly record set in November. The majority of U.S. exports are expected to head to Europe, where imports are estimated to fall 0.69 Mt month/month as arbitrage continues to favor Asia.18.54 Bcf/d: After pipeline maintenance and recovery of LNG output on the Gulf Coast, U.S. feed gas demand has returned to near all-time highs. Freeport LNG briefly tripped Tuesday morning but has since recovered, contributing to an almost 0.7 Bcf/d boost in feed gas nominations. Scheduled flows to U.S. terminals were 18.54 Bcf/d Wednesday, according to NGI calculations of Wood Mackenzie pipeline data.6.3 Mt/y: Italian utility Edison SpA has charted a 174,000 cubic meter LNG vessel as a part of its strategy to build an export portfolio backed by U.S. supply. Edison disclosed a long-term charter with Norwegian firm Knutsen OAS Shipping AS starting in 2028. By the time the charter commences, Edison will have control of 6.3 million tons/year (Mt/y) in export volumes, including 1 Mt/y from Calcasieu Pass and 0.7 Mt/y from Shell plc’s trading arm.