Chinese measures to contain the spread of coronavirus is causing a major shock to the economy – Feb PMI data in China crashed to its lowest level in history. But the left hand chart shows the sudden economic slowdown has not had a major impact on Feb LNG deliveries to China (with volumes following a similar path to 2019). Indian LNG delivery volumes are surging in 2020, up around 64% in Feb 20 (vs Feb 19), in part reflecting demand response to lower prices.
Chinese & Indian LNG imports hold up