LNG: LNG Demand in Japan and China Rebonded in Week to Sept. 8: BNEF

Global LNG demand rebounded up 20% in the week to Sep 8 to 7.84m metric tons driven by Japan and mainland China recovering from multi week lows, according to BNEF. Imports to Japan rose by 0.59m tons and mainland China by 0.52m tons.

• Monthly deliveries up to September 8 into Japan rose 16% from the same period in 2023 and mainland China was up 16% and South Korea up 13% y/y.
• Imports to Thailand were also up 0.14m tons w/w as month to date volumes were up 47% year-on-year while Taiwan imports are also up 26% y/y.
• LNG deliveries into Northwest Europe and Italy fell by 0.23m tons w/w as imports into France over September 1-8 were 35% lower than the same period in 2023.
• Global LNG supply fell by 6% from the previous week to 7.48m tons driven by a 0.39m tons drop from the US to more than offset a rise of 0.16m tons from Malaysia.
• US exports fell to the lowest level since late July when production recovered from Hurricane Beryl.
• Australian supply edged up by 0.07m tons this week but monthly supply as of September 8 were down 9% year-on-year.

Source: BNEF