Global LNG Imports to Rise 10% MoM in December

Global LNG imports are forecast to rise by 10% on the month to 38mn tons in December, up by 4% year on year, with North Asian imports projected to lead the growth amid rising heating demand and nuclear maintenance according to BNEF.

• Japan’s imports are forecast to rise to 6.2mn tons in December, up by 19% from November, but 0.2mn tons below last year’s levels.
• South Korean imports are estimated to reach 4.7mn tons this month, compared with 4mn tons in November and 0.4mn tons higher on the year. LNG stockpiles are estimated to have reached 5.5mn tons by end-November, based on proprietary imports data compiled by Bloomberg and Kogas sales.
• Chinese imports are also expected to grow by 0.8mn tons on the month to 7.6mn tons this month to meet higher heating demand with potential additional upside from lower-than-expected pipeline flows from Central Asia.
• NW Europe LNG imports are projected to rise by 0.6mn tons month on month to 7.7mn tons in December.
• Global LNG supply is projected to rise by 8% on the month to 37.2mn tons, due to an increase in US, Qatari, Australian and Egyptian LNG exports.
• US LNG supply in December is expected to rise by 0.5mn tons to 8.5mn tons, amid a recovery at Sabine Pass, while Freeport just received regulatory approval to restart operations at its second berth.
• Egyptian LNG exports are forecast to recover to normal to 0.36mn tons this month.
• Qatar’s LNG supply is expected to recover by 0.6mn tons month on month to 6.9mn tons in December, after facilities returned from maintenance.
• Australian supply is forecast to rise to 6.9mn tons in December, up by 0.5mn tons on the month. Shell’s Prelude FLNG is scheduled to return from delayed maintenance by end of this year.