Analysis: Australia’s new projects meet East Asia’s H1 LNG demand growth

East Asia is the world’s largest LNG-importing region, but key importers Japan and South Korea saw demand fall in the first half of 2015 and again in 2016. However, the first half of 2017 saw a rebound in both markets, which combined with continued growth trends from China and Taiwan to boost East Asia’s total H1 LNG demand by 14%.

New supplies coming onstream from Australian liquefaction projects including APLNG, GLNG and Gorgon were vital in enabling the market to meet returning demand and allowed the world’s largest LNG exporter, Qatar, to switch volumes towards growing new markets closer to home including Egypt and Pakistan.

This analysis reviews cargo data from ICIS intelligence platform LNG Edge to break down supply and demand patterns for the first half of the year and give a picture of the key trends in the market this year, as well as illustrating the impact on the ICIS East Asia Index (EAX) price for spot LNG.

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