MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Europe To Pull 76% Of Flexible LNG Cargoes This Summer

LNG

Europe is likely to pull 76% of all flexible LNG cargoes this summer in order to meet storage injection targets ahead of the 2023/24 winter season, as anticipated higher demand from China is expected to be offset by lower demand from Japan and South Korea according to BNEF.

  • China’s economic recovery will be the key factor driving spot LNG flows and benchmark gas and LNG prices this summer.
  • High LNG imports and gas demand destruction could help Europe to refill storages without much reliance on Russian supplies.
  • Expected lower LNG demand from South Korea and Japan, amid higher nuclear generation, will be enough to offset rising demand from China and leave sufficient LNG cargoes for northwestern Europe this summer.
  • A hot Asian summer could increase LNG demand and take away 2mn tons of LNG from Europe.
  • Global LNG demand this summer is expected at 191mn tons, compared with 189mn tons in summer last year. Northwest European, incl Italy, demand is expected to rise by 1.3mn tons year on year.
  • Chinese demand is expected to pick up by 5.3mn tons year on year this summer.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.