Goldman Sachs Sees Excess LNG Supply In Market Pushing NW European Gas Storage Levels Against Capacity In Summer 2027

June 16 (Reuters) - GOLDMAN SACHS:

• REVISES ITS EGYPT LNG IMPORT FORECASTS SUSTAINABLY HIGHER TO REFLECT ITS STRUCTURAL MARKET DEFICIT

• SHIFTS ITS 2025/2026 AND 2026-2030 AVERAGE EGYPT LNG IMPORTS FORECAST TO 7/9 MTPA AND 12 MTPA (FROM 5/4 AND 3 PREVIOUSLY)

• SAYS IT STILL SEES EXCESS LNG SUPPLY IN THE MARKET PUSHING NW EUROPEAN GAS STORAGE LEVELS AGAINST CAPACITY IN SUMMER 2027

• SAYS FROM 2028 MOST OF THE TIGHTENING DRIVEN BY HIGHER EGYPT LNG IMPORTS IS OFFSET BY HIGHER US SUPPLY EXPECTATIONS