Liquefied natural gas (LNG) producers in the United States are preparing to export it to Europe as the fuel price falls to previous levels, Report says, referring to Kommersant.
Today, TTF in the Netherlands, Europe’s largest gas hub, sells 100 cubic meters for $ 186.3 and November contracts for more than $ 187, the highest level since December last year.
Gas supplies to Europe fell sharply this summer and are now much lower than last year.
Simultaneously, the current rise in prices has begun to cover the cost of liquefying US gas to Europe. At present, the price of December contracts at the Henry Hub in the US increased $ 3.22 / MMBtu, i.e., $ 126/1000 cubic meters, January contracts – $ 3,359 / MMBtu ($ 131.8 / 1000 cubic meters), and February contracts – $ 3,315 / MMBtu ($ 130 / 1,000 cubic meters).
According to experts, if prices do not fall, LNG production in the US should return to pre-crisis levels by November.