European LNG send-out spikes amid global price convergence

A recent surge in LNG send-out into gas grids from European terminals has coincided with the greatest level of convergence among key global gas prices for at least six years, ICIS analysis shows.

ICIS has measured global gas price convergence based on the coefficient of variation of ICIS’ US dollar front-month price assessments of the Dutch TTF, the Japanese delivered ex-ship (DES) LNG price, the Brazil DES LNG price and NYMEX Henry Hub futures settlements.

ICIS looks at the key drivers behind this global price convergence, in the context of rising US LNG exports and a scarcity of European LNG reloads.

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