LNG: Global LNG Imports Fall 20% w/w Driven by Japan and Mainland China: BNEF

Global LNG demand fell 20% in the week to Sep 1 to 6.49m metric tons driven by Japan and mainland China, according to BNEF. Imports to Japan plunged by 0.68m tons and mainland China by 0.55m tons.

• India's year on year LNG import growth eased to less than 0.2m tons in August from growth of about 0.8m tons in June and over 0.7m tons in July. India has received just over 4m tons more year to date in 2024 compared to last year. Mainland China imported 5.3m tons more LNG year to date.
• LNG deliveries into Northwest Europe and Italy rose by 0.34m tons w/w but August supplies still lagged 2023 levels by roughly 1.5m tons. Year to date in 2024 the UK imported 6.4m tons less than last year and Spain 3.1m tons less.
• Global LNG supply fell by 3% from the previous week to 7.89m tons driven primarily by a 0.24m tons drop from Australia to more than offset a rise of 0.13m tons from the US.
• Russian supply in August rose more than 0.9m tons y/y from Yamal, Sakhalin-2 and Arctic LNG 2. Nigerian output grew 0.3m tons y/y to offset a similar decline from Malaysia amid production issues.