Pause for the cause

Global gas markets shrug at Biden’s US LNG 'pause' | EU LNG Chart Deck: 29 Dec 2023-2 Feb 2024

Much has been said about the Biden administration’s snap decision to pause LNG export approvals to countries without a US free trade agreement. While the policy would probably be rescinded if Donald Trump prevails at the polls in November, there are many angles to consider. This post weighs up what it could all mean for European energy security and the decarbonisation agenda.

But first, it’s been a long time since the last EU LNG Chart Deck and a catch-up is overdue. This post is broken into the following sections:

1. Europe coasts through winter

2. Geopolitics benefit Asian buyers

3. Netbacks narrow, pinch-points tighten

4. Spot LNG hits price inflection

5. Squinting at US LNG margins

6. LNG pause prompts furore

7. Winners, losers and electioneering

There’s a lot to cram in, so this email is a bit longer than usual and might be truncated by your email client. For an optimal reading experience, click here for the online version.

OK, let’s get stuck in 💥

Article stats: 2,600 words, 12-min reading time, 11 original charts/graphs