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LNG
The recovery in gas demand in Asia could fall short of expectations according to Bloomberg based on June LNG imports, disappointing PMI data and falling power demand.
- China’s LNG imports were up 7.5% in H1 2023 from H1 2022 to 33.1m tons but sill 17.4% lower than shipments in H1 2021. Japan's imports were 12.9% lower than in 2022 and 16.8% lower than in 2021.
- Bloomberg note LNG demand could fall short of market expectations in the coming months as sluggish manufacturing PMI in June for China and Japan signal stronger headwinds.
- Falling power demand in June down by 5.7% yr/yr in Japan and 3.7% in S Korea could also limit gas demand although could be boosted by expected hotter than normal temperatures this summer.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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