US LNG Exports Hit Second-Highest Monthly Level on Record as European Demand Surges

The pull toward Europe reflects a winter-security motive more than arbitrage alone: the narrowing Europe-Asia price gap means US cargoes are landing where the seasonal risk is highest. For European buyers, the exposure is now less about spot price and more about dependence on a single flexible supplier during peak-demand months. Whether that October concentration in Europe persists once winter storage needs are met — or whether volumes rotate back toward Asia as the spread reopens — is the open question for the months ahead.