Global LNG Imports Fall as LNG on Water Increases: BNEF

Global LNG imports for the week to 1 Oct fell 8% to 6.8m metric tons at the start of the holiday period for parts of North Asia according to Bloomberg.

• A drop in imports to South Korea and mainland China of 0.4m tons each offset an increased in into Japan of nearly 0.7m tons. Imports to Europe saw an increase of about 0.3m tons but about 23% below the same period last month while flows to India fell from the 2023 peak from the previous week by 0.6m tons.
• Global LNG exports decreased 6% to 7.5m tons driven by a 0.3m tons fall from the US and a 0.1m drop from Australia while exports from Qatar and Russia were mostly unchanged. The US decline was driven by planned maintenance at Cove Point and one less cargo from Corpus Christi and Sabine Pass.
• LNG transits via key routes fell by two to 17 cargoes with one less via Panama Canal and one less via the Northern Sea Route.
• LNG volumes at sea rose by 39% over the last week to the highest level since end-November.

Source: BNEF