Global Weekly LNG Imports Rose to New Record

Global LNG imports rose to a new record of 9.3mn tons during 8-14 January, up by 21% on the week, driven by increased shipments into Japan, South Korea and NW Europe according to BNEF.

• Imports into JKCT rose to 4.64mn tons last week, up from 4.23mn tons the week prior. Shipments into Japan rose by 0.87mn tons to 1.75mn tons last week, while South Korean imports edged higher by 0.22mn tons on the week to 1.03mn tons. In contrast, flows into China dropped by 0.7mn tons to 1.47mn tons.
• Shipments into NW Europe and Italy rebounded by 0,44mn tons to 1.81mn tons.
• Global LNG exports declined by 9% on the week to 7.9mn tons, amid less flows from the US, Malaysia and Qatar.
• US LNG exports declined by 0.27mn tons to 1.76mn tons last week, while flows out of Malaysia dipped by 0.32mn tons to 0.41mn tons last week.
• Weekly laden LNG transits via the Suez Canal fell to three last week, down from five a week earlier. Transits via the Cape of Good Hope rose from nine to 13, the highest since late August 2021.