Asian LNG demand grew by 8% in 2024, driven by strong Chinese demand and flexible purchases from other Asian buyers as JKM prices dropped since early 2023. European LNG imports have in turn fallen by 22% due to weak onshore demand and high storage levels (we will investigate this in detail in our feature article on Monday).
However, risks remain in Asian supply, as shown by disruptions in Australia and Malaysia, which pushed JKM prices higher in August. The link between price levels and Asian demand flexibility mechanisms will remain key in balancing the market going forwards.
David Duncan (Director of LNG & Gas) will be attending Gastech 2024 in Houston across 17-19 September 2024.
Please get in touch with David (david.duncan@timera-energy.com) if you would like to catch up on the services Timera Energy provide, LNG Bridge, our quarterly Global Gas Service or anything else.