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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
Asian LNG imports are on track to rise to the highest since January at 24.85m metric tons in July, according to Kpler data cited by Reuters boosted by higher prices and a heat wave in northern Asia.
- China is on track to import 6.41m tons in July and India import 2.61m tons and the most since October 2020.
- Japan is set for the highest imports since March to 5.62m tons but may ease in coming months after peak summer demand and with elevated inventories.
- Europe's imports are however set for the lowest since September 2021 at 6.56m tons for July.
- Spot cargoes for delivery to North Asia LNG-AS were just below the highest since mid-December at $12.00/mmbtu in the week to July 26. Prices are high enough to attract cargoes to the region but not enough to limit demand from price-sensitive buyers such as China and India.
- Asia continues to be the premium market for US LNG with the profitability of exports for September to Asia at $9.39/mmbtu and to Europe at $8.00/mmbtu, according to BNEF.
- GSPC has bought a cargo on DES basis for Sept-Oct delivery and GAIL has issued a tender for a Sept cargo.
Source: Reuters
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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