Global Weekly LNG Imports Dipped 12% Last Week

Global weekly LNG imports in the week of 23-29 October stood at 6.3mn tons, down 12% on the week, driven lower flows into JKCT and India, BNEF data showed.

• LNG imports into JKCT fell by 0.71mn tons on the week to 2.87mn tons, largely driven by lower shipments to Japan and South Korea.
• LNG shipments into India fell by 0.24mn tons on the week to 0.31mn tons.
• Japan’s LNG imports last week declined by 0.23mn tons on the week to 1.01mn tons. South Korea’s LNG imports stood at 0.29mn tons last week, down from 0.78mn tons the week before.
• Northwest Europe and Italy imported 1.32mn tons of LNG during 23-29 October, up by 16% from the same period last month, but almost stable from the week prior of 1.36mn tons.
• Global weekly LNG exports for the period edged down by 1% on the week to 7.8mn tons, with volumes from Qatar below the 2023 weekly average for a second consecutive week, while monthly volumes until 29 October are also down on the month and on the year. Qatar’s LNG exports stood at 1.24mn tons last week, slightly up from 1.21mn tons the week prior.
• No shipment has departed from Egypt for the second consecutive week. The country’s natural gas pipeline imports from Israel halted to on Sunday, making it more unlikely for Egypt to ramp up LNG exports in the coming weeks, as previously announced by the government. ICIS ship-tracking data showed that only one LNG cargo loaded after the start of the conflict in Israel. The 80,000cbm capacity Dapeng Princess vessel loaded from Egypt's Idku plant on 12 October.