Global LNG Demand to Rise in 2024 on China, Europe

Global LNG demand will increase this year as Chinese buyers have returned to the market, while European demand is increasing, TotalEnergies’ Senior Vice President Asia Pacific Exploration & Production Thomas Maurisse said, cited by Reuters.

• "LNG has continued to grow, with China being back in the market but not yet at the level of 2021," Maurisse said.
• "With Europe ... it's a new and big market, this demand will still continue to grow. At the same time, new capabilities will not be on stream in this very short term, so will continue to put bit of pressure on prices and volatility," Maurisse added.
• Global LNG consumption is expected to rise by 50% over the next decade with signs of growth seen in emerging Asia, Woodside CEO Meg O’Neill said to Bloomberg earlier this week.
• The latest lower Asian LNG spot prices have begun supporting trading activities in Asia, and China has already started buying, Petronas' Vice President, LNG Marketing and Trading Shamsairi M Ibrahim said.
• "But (market is) still tight. If anything happens to production, you will see a (price) spike," Shamsairi said.