Europe soaked up most U.S. liquefied natural gas (LNG) exports for the second straight month in February, as cold weather and strong prices pushed up demand for the superchilled gas across the
Europe soaked up most U.S. liquefied natural gas (LNG) exports for the second straight month in February, as cold weather and strong prices pushed up demand for the superchilled gas across the Atlantic, according to preliminary data from financial firm LSEG.
The U.S. is the world's largest exporter of LNG and continues to play a major role in supplying Europe since Russia's invasion of Ukraine significantly reduced the amount of Russian gas piped to Europe.
In February the U.S. exported 8.35 million metric tonnes (MT) of LNG, shy of the monthly record of 8.6 MT hit in December 2023 and just short of the 8.46 MT exported in January, LSEG data showed. There were three fewer production days in February due to the shorter month.
Of the 8.35 MT exported from U.S. plants in February, 6.82 MT, or 82%, went to Europe, short of the 7.25 MT, or 86%, exported to the continent in January, according to LSEG data.
The Dutch Title Transfer Facility (TTF) benchmark in Europe averaged $15.28 per million British thermal units (mmBtu) in February. That compares with $8.12 per mmBtu in February 2024 and an average of $10.95 per mmBtu for 2024. The Japan Korea Marker
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