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Asia’s LNG Re-Exports Continue to Outpace Europe: Platts

LNG

Asian LNG re-exports have continued to outpace those in Europe so far in 2024, maintaining the trend seen in 2023, according to Platts.

  • Re-exports from Asia and Europe have totalled 0.53m mt so far in 2024, with 0.2m re-exported from the Atlantic and the remainder from APAC.
  • Re-exports from Europe had been higher than in Asia from 2008-2022, but that flipped in 2023.
  • Re-exports have particularly seen a boost in mainland Chins since 2023, driven by a slow recovery in demand and a price sensitive downstream market.
  • Europe’s re-export volumes have declined further following disruption to shipping in the Red Sea, with the lengthier shipping voyage reducing the incentive to send cargoes Eastward.
  • Spain is the largest re-exporter in Europe, but the journey around the Cape would add 20 days to shipping and boost freight by 62%, Platts said.

Source: S&P Global Commodity Insights

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