Global Weekly LNG Imports Rose on China, India

Global weekly LNG imports rose by 4% on the week to 7.5mn tons for October 9-15, as supplies into China and India increased according to BNEF.

• LNG imports into China rose by 0.58mn tons to 1.47mn tons last week as the Golden Week holidays ended.
• India’s weekly LNG imports rose by 0.26mn tons on the week to 0.56mn tons.
• Overall weekly LNG imports into JKCT rose by 0.49mn tons to 3.97mn tons.
• Imports into Northwest Europe and Italy stood at 1.2mn tons for 9-15 October, down by 0.21mn tons from the week prior but up by 38% from the same period last month, as heating season is starting.
• Global weekly LNG exports edged higher by 2% on the week to 7.8mn tons as shipments from Russia, Qatar and the US increased by two, one and one, respectively, while those from Australia dipped by one.
• Markets will be watching LNG exports out of Australia this week as industrial action at two of Chevron’s LNG facilities is scheduled to start on Thursday. Previous strikes did not affect exports from both terminals.
• Egyptian LNG exports increased last week and rose to two cargoes that departed from the Idku plant, up from one in the previous week. This is despite tensions in the Middle East that weighed on the country’s pipeline gas supplies from Israel. Markets have assumed Egypt may cease plans to resume LNG exports in October.