Global LNG Imports Fall on Lunar New Year Holiday

Global weekly LNG imports declined by 16% to 7.2mn tons as of 5-11 February, driven by lower shipments to South Korea and China amid the start of the Lunar New Year Holidays according to BNEF.

• LNG imports into JKCT fell sharply by 1.54mn tons to 3.41mn tons last week. Imports into South Korea saw the sharpest decline by 0.65mn tons on the week to 0.70mn tons. China imported 1.16mn tons of LNG last week, down from 1.60mn tons the week prior.
• Shipments into NW Europe and Italy edged lower by 0.20mn tons to 1.11mn tons last week.
• Global weekly LNG exports fell by 5% to 8.3mn tons during 5-11 February.
• US LNG supply last week declined by 0.4mn tons to 1.71mn tons, while Freeport LNG deliveries remained flat on the week. Qatari LNG exports fell by 0.24mn tons to 1.51mn tons, while Australia shipped 1.82mn tons, up from 1.56mn tons the week before.
• Weekly laden LNG vessel transits via key routes totalled 15 cargoes, the same as a week earlier. Shipments crossing the Suez and Panama canals have been zero for the fourth and second straight week, respectively. The Cape of Good Hope voyages were unchanged at 15.