Skip to content

Europe’s LNG Glut Leaves Jetties Full of Discounted Cargoes

  • Shipments offered below Europe’s natural gas benchmark
  • LNG imports in Europe are approaching record-high levels

There is so much liquefied natural gas arriving in Europe that cargoes of the super-chilled fuel are being offered at a discount to regional benchmark rates. 

Europe’s LNG imports are approaching record levels this month, prompting traders to cut cargo prices due to the lack of slots at import terminals and as supply exceeds demand. Fuel for delivery in March is being offered at $2 per million British thermal units, or 8%, below prices on the Title Transfer Facility gas trading hub in the Netherlands, said Melissa Lindsay, founder of LNG brokerage Emstream.