JPMC Utilities Daily: 16 June: Global LNG, ENGI, UK Water, EDP, FORTUM

Research evidence excerpt

JPMC Utilities Daily: 16 June: Global LNG, ENGI, UK Water, EDP, FORTUM

J P M O R G A N Europe Equity Research

16 June 2026

JPMC Utilities Daily

16 June: Global LNG, ENGI, UK Water, EDP, FORTUM

ACSector Headlines EuropeanJavier GarridoUtilities & Clean Energy

(34-91) 516-1557

javier.x.garrido@jpmorgan.com

J.P. Morgan Securities plc

AC• Global LNG Supply & Shipping Tracker: The first swallow (Research Pavan Mahbubani, CFA

Available) (44-20) 7134-3056

pavan.mahbubani@jpmorgan.com

• Engie: reportedly launches US DG sale process J.P. Morgan Securities plc

• UK Water: UK environment minister Reynolds raises concerns over Thames Alejandra Botbol

Water rescue alejandra.botbol@jpmorgan.com

• EDP: switches on 240MWh BESS in Chile Samanvitha Theegela

• Fortum: affirmed at BBB+ by Fitch; Outlook stable (91-22) 6157-5846

samanvitha.theegela@jpmchase.com

Sector News J.P.MukundMorganVermaIndia Private Limited

(44-20) 7742-4181

mukund.verma@jpmorgan.com

Global LNG Supply & Shipping Tracker: The first swallow Specialist Sales contact details:

(Research Available) Ian Mitchell - Specialist Sales -

European Energy

Following the announced ceasefire agreement between the US and Iran, the first (44-20) 7134-1356

LNG tanker exited the Strait with transponders on. Based on Bloomberg ship ian.e.mitchell@jpmorgan.com

tracking data, we estimate Disha was loaded in Ras Laffan on June 12-13 and exited

Hormuz in the early hours of June 15, heading to Dahej, India. This was

later confirmed by Indian port authorities. After the Disha exit, we count just eight

vessels inside the Strait, two of which currently have their transponders switched

off (one was last seen on June 3 and the other on March 5) and either may, in

practice, already be outside the Strait (Global LNG Analyzer: Open, or not open,