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Global Weekly LNG Imports Fell on Sluggish North Asian, NW European Demand

LNG

Global weekly LNG imports fell by 14% on the week to 7.6mn tons during 20-26 November, driven by a decline in shipments to North Asia and NW Europe according to BNEF.

  • Total imports into JKCT during the period fell by 0.75mn tons to 3.97mn tons during the period.
  • Chinese imports fell at the fastest pace by 0.28mn tons to 1.65mn tons. Shipments to Japan declined by 0.24mn tons to 1.17mn tons, while South Korea imported 0.82mn tons last week, down from 0.93mn tons the week before.
  • NW Europe and Italy imported 1.50mn tons last week, down from 1.86mn tons the week before.
  • Weekly LNG exported edged higher by 1% to 8mn tons during 20-26 November. While Egypt exported its first cargo in November last week, exports from Qatar fell by 0.21mn tons to 1.42mn tons last week.
  • Shipments from Australia rebounded by 0.25mn tons to 1.55mn tons, but latest disruptions at the Australia Pacific LNG terminal in Queensland are likely to weigh on this week’s exports.
  • Laden US LNG tankers crossing key routes fell to five across November 20-26, down from nine the week before and the lowest level in eleven weeks. Suez Canal visits remained at four, Panama Canal transits dropped from two to one, and Cape of Good Hope voyages fell from three to zero.

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