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LNG: European LNG Imports Rise to Highest Since January

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European LNG imports in December rose to the highest since January as winter demand rose and ahead of the end of Russian pipeline transit via Ukraine, according to Reuters.

  • Imports rose 23% from 8.86m tons in November to 10.89m tons in December but fell 7.9% y/y, Kpler data showed.
  • Asia also recorded higher arrivals up from 22.64m tons in November to 25.63m tons in December although were down 3.6% year on year.
  • China arrivals fell from 8.20m in November to 7.66m tons in December while India saw a small increase y/y to 1.94m tons.
  • A mild start to winter in North Asia and rising spot prices likely curbed importer interest. Prices above $10/mmbtu have previously seen fewer spot cargoes to India, and Chinese LNG cargo resales.
  • Spot LNG cargoes to Europe could be higher than normal in the coming months with prices high enough to attract cargoes amid lost Russian pipeline gas and falling storage inventories.
  • Europe imported 5.22m tons of U.S. LNG in December, an 11-month high, as increased supply could help meet higher European demand.

 

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European LNG imports in December rose to the highest since January as winter demand rose and ahead of the end of Russian pipeline transit via Ukraine, according to Reuters.

  • Imports rose 23% from 8.86m tons in November to 10.89m tons in December but fell 7.9% y/y, Kpler data showed.
  • Asia also recorded higher arrivals up from 22.64m tons in November to 25.63m tons in December although were down 3.6% year on year.
  • China arrivals fell from 8.20m in November to 7.66m tons in December while India saw a small increase y/y to 1.94m tons.
  • A mild start to winter in North Asia and rising spot prices likely curbed importer interest. Prices above $10/mmbtu have previously seen fewer spot cargoes to India, and Chinese LNG cargo resales.
  • Spot LNG cargoes to Europe could be higher than normal in the coming months with prices high enough to attract cargoes amid lost Russian pipeline gas and falling storage inventories.
  • Europe imported 5.22m tons of U.S. LNG in December, an 11-month high, as increased supply could help meet higher European demand.

 

Keep reading...Show less