Asian LNG imports increased by 3.4bcm in February compared to the same time a year ago despite the market relaxing from the January spike. While the structural growth continues, a return to more normal temperatures and a rapid rise in LNG stocks (resulting from Asian utilities scrambling for cargoes as a result of high demand in January) has seen Europe claw back market share with a 2bcm increase in February imports compared to the month before. This rise has been led by an increase in flows from the swing supplier US, as well as the return of Qatari cargoes to the UK.
Asian LNG imports continue structural growth