April 4, 2024

Asian LNG imports surge as EU demand falls flat

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European imports (ex-Turkey) last month sat at their lowest March levels since 2019, a reflection of a tepid demand picture driven by mild winter weather and weak power sector demand. This demand slump has left Europe exiting winter with record high inventories at 59%, weighing on global prices to induce incremental demand.

In response, Asian LNG imports rose above 23 million tons last month, a record high for the month of March, and an indication that the region’s price-sensitive buyers (particularly China, India, and Thailand) are returning to the spot market in force.


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Asian LNG imports surge as EU demand falls flat