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LNG: Asian LNG Imports in August See Slight Decrease on Month: Platts

LNG
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Asian LNG imports in August saw a slight decrease on the month with lower-than-expected consumption weighing on regional demand, Platts said.

  • Imports were 23.03m mt in August, down from 23.59m mt in July. This came via a total of 350 cargoes.
  • However, imports are up around 2% on August 2023.
  • China imported the most cargoes, taking 96, followed by Japan at 86 and South Korea at 56.
  • China’s LNG imports rose 7% on the month and 3.7% on the year.
  • The increase was primarily driven by active purchases from second tier buyers in early July. This coincided with JKM falling to $11.50/MMBtu.
  • However, more price-sensitive Chinese end-users have been sitting on the sidelines after JKM prices rose during August due to outages and geopolitical tensions.
  • Japanese demand for prompt cargoes may be on the rise amid declining nuclear power and typhoon weather which may delay LNG discharges.

 

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Asian LNG imports in August saw a slight decrease on the month with lower-than-expected consumption weighing on regional demand, Platts said.

  • Imports were 23.03m mt in August, down from 23.59m mt in July. This came via a total of 350 cargoes.
  • However, imports are up around 2% on August 2023.
  • China imported the most cargoes, taking 96, followed by Japan at 86 and South Korea at 56.
  • China’s LNG imports rose 7% on the month and 3.7% on the year.
  • The increase was primarily driven by active purchases from second tier buyers in early July. This coincided with JKM falling to $11.50/MMBtu.
  • However, more price-sensitive Chinese end-users have been sitting on the sidelines after JKM prices rose during August due to outages and geopolitical tensions.
  • Japanese demand for prompt cargoes may be on the rise amid declining nuclear power and typhoon weather which may delay LNG discharges.

 

Keep reading...Show less