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Global #LNG Imports Resume Growth! More LNG is being traded than a year ago for the first time since the virus upended demand
Global imports in October increased 3.8% from a year earlier, the first monthly y/y gain since May and the largest increase since March
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The rebound can be primarily attributed to an increase in demand from larger end-users in Asia, which have mostly weathered the pandemic better than Europe or the US
China and South Korea saw the biggest annual increase. But Pakistan, Bangladesh, India also boosted imports a bit
China and South Korea saw the biggest annual increase. But Pakistan, Bangladesh, India also boosted imports a bit
It should be noted that Chinaâs imports were particularly weak in October 2019 due to an outage at the Rudong LNG terminal
Meanwhile, Korea boosted imports to make up for unplanned outages at nuclear plants
Meanwhile, Korea boosted imports to make up for unplanned outages at nuclear plants
Still, it wasnât a rosy picture across all of Asia
Deliveries into Japan, the world's top LNG importer, slumped quite a bit amid weaker electricity consumption. Folks were expecting more LNG deliveries as a bunch of nuclear reactors enter planned maintenance
Deliveries into Japan, the world's top LNG importer, slumped quite a bit amid weaker electricity consumption. Folks were expecting more LNG deliveries as a bunch of nuclear reactors enter planned maintenance
Annual imports into Western Europe plunged 25% amid a surge in Covid-19 cases, forcing some nations to reintroduce lockdowns
Global exports of the fuel were roughly on par with last yearâs level
(Output increased by 8.7% from September)
(Output increased by 8.7% from September)
U.S. deliveries jumped to the highest level since March as prices recover overseas and massive terminals start new units
Meanwhile, exports from Australia and Qatar increased above last year's levels
Meanwhile, exports from Australia and Qatar increased above last year's levels
Exports from Norway, Trinidad & Tobago and Nigeria were weak in October amid unplanned outages and maintenance
