Global LNG Monthly
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China
Published 26 Apr 2019
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China’s LNG imports are likely to remain in their seasonal soft spot in April, but y/y gains will still be around 1 Mt. LNG imports in sequential terms should start picking up in Q2 19 as a VAT cut on imports, which took effect on 1 April, combined with an equivalent reduction in city-gate.. -
Global supply trends
Published 26 Apr 2019
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LNG supply continued to post healthy y/y gains across March and April despite some high-profile maintenance issues. New supply trains are progressing; there are signs that Ichthys T2 is starting to ramp up, while the first trains at Cameron LNG and Freeport LNG are likely to put first volumes int.. -
Japan
Published 18 Apr 2019
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Please note that users licensed for the data service can access our Japanese gas balances and energy imports data. With Japan largely now having normalised its previously high storage levels, LNG import levels should start to revert to making small incremental gains. As we move through summer, th.. -
South Korea
Published 16 Apr 2019
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South Korean LNG imports totalled 3.0 Mt last month, a sharp 1.3 Mt (30%) lower y/y. Even amid a loose supply-demand balance, the drop was notable as the largest y/y fall in imports for any month in over seven years. The weak LNG intake has helped to normalise South Korea’s LNG inventory le.. -
North America
Published 5 Apr 2019
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A mild end to March has shifted our end-October estimated US storage position from 3.4 tcf (96 bcm) to more than 3.6 tcf (102 bcm), leaving balances much looser. As a result, we have revised our previous $2.87/mmbtu Henry Hub injection season strip down to just below $2.80/mmbtu. On top of this s.. -
Latin America
Published 29 Mar 2019
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Latin American LNG imports still remain in the doldrums, but a rare uptake in LNG is now coming from Brazil, where LNG takes have started to recover in the last two months. The recovery comes from a drop in domestic gas available to market, as pre-salt hydrocarbon has begun to taper off and produ.. -
Middle East & North Africa
Published 28 Mar 2019
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LNG imports by countries in the Middle East and North Africa (MENA) remained low in February. We expect a seasonal increase during Q2 19, aided by the UAE not having the same incentive to avoid LNG due to high prices as in Q2 18. But MENA imports will still be 0.7 Mt lower y/y in Q2 19, because o.. -
Global supply trends
Published 27 Mar 2019
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LNG supply continued to post healthy y/y gains in February and in March (based on early indications), but there have been no sequential increases on December 2018 numbers. While Yamal T3, Sabine Pass T5 and Corpus Christi T1 are all supplying volumes, we still await exports from Prelude. Other ne.. -
China
Published 25 Mar 2019
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Due to the Lunar New Year, the National Bureau of Statistics (NBS) publishes combined January-February output data in March but does not release separate January figures. This data review therefore discusses combined data as issued by NBS, while customs data is available for each month. China&rsq.. -
South Asia
Published 21 Mar 2019
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February South Asian LNG imports of 2.24 Mt were up by 0.2 Mt y/y. Indian imports fell by 0.14 Mt (9%) as JKM prices for February delivery back in December were still up above 9 $/mmbtu. The lower JKM prices that are prevailing across the summer curve are going to interact with expansions of Indi.. -
North America
Published 20 Mar 2019
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Sticky production growth pegged at 7.1 bcf/d (0.2 bcm/d) this injection season (April-October) will help keep US balances loose. The demand side is set to be coloured by timing risks, particularly around pipeline export growth into Mexico and feedgas for LNG. Delays to the start-up of Cameron LNG.. -
Japan
Published 19 Mar 2019
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Japanese LNG imports declined once more in February, by 0.94 Mt (11%) y/y to 7.35 Mt according to customs data. Given low imports in February, we estimate a reasonably healthy LNG storage draw of 0.32 Mt across that month. Indications of another light month for Japanese LNG imports in March, down.. -
South Korea
Published 18 Mar 2019
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South Korean LNG imports totalled 3.8 Mt last month, a 0.75 Mt (16.5%) reduction y/y. Weak demand, with Kogas sales down 0.55 Mt (13%) y/y, suggests only a modest draw on stocks and has left the country at the end of February with LNG stocks about 1.9 Mt higher y/y. We expect another strong.. -
Latin America
Published 28 Feb 2019
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We have retained our forecast that Latin American LNG imports will fall by 2.1 Mt y/y through Q2 19–Q3 19 on higher pipeline imports and domestic production. There is some timing risk to this number, as it assumes Mexico’s new pipeline infrastructure ramps up in a timely enough fashio.. -
Middle East & North Africa
Published 27 Feb 2019
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The trend of declining LNG imports by countries in the Middle East and North Africa (MENA) region notched up a milestone in January, as no cargoes arrived for the first month in over four years. Seasonally low winter demand played a part as did rapidly rising Egyptian gas production, which could..
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