As of December 27, Europe's delivered imports of LNG reached 10.36 million metric tons, representing approximately 94% of the November level, which was the highest since May. The December volumes were primarily destined for countries such as France, the UK, Turkey, the Netherlands, Spain, Belgium, Italy, Germany, Poland, Portugal, Croatia, Greece, Finland, and Lithuania. The US supplied 53% of the total, with Russia, Algeria, and Qatar contributing 13%, 8%, and 8%, respectively. Despite ample supply and muted demand, rising tensions in the Middle East, particularly the Red Sea attacks on ships, have impacted market sentiment. The DES Northwest Europe Marker for February was assessed at $10.374/MMBtu on December 22, reflecting a week-on-week increase. Analysts suggest that market support may be observed towards the end of 2023 as traders close their annual books, despite ongoing bearish sentiment influenced by weak demand and robust supply sources.

SOURCE:GOOGLE