Global LNG imports increased by 7% year-on-year in the second quarter (Q2) of 2018, with continued strong growth in demand from China. China saw a 40% year-on-year increase in its Q2 imports, slowing a little from the annual growth rate seen over the winter, but still providing a major boost to the global consumption.
Cameroon joined the ranks of global LNG exporters in Q2 and facilities including Cove Point in the US and Yamal LNG in Russia provided year-on-year increases to supply. However, output from other major producers including Malaysia and Papua New Guinea was down, and combined with a backdrop of strong global oil prices, this pushed spot LNG prices sharply higher. The East Asia Index averaged almost $9/MMBtu across the quarter, compared with around $5.50/MMBtu during the same period in 2017, leading traders to review the potential levels for the winter ahead.
The LNG Edge: Q2 2018 Trade Flow Report draws on the latest voyage data from the market-intelligence platform, LNG Edge, to analyse imports and exports in the global LNG market, bringing you key insights ahead of full data publication from the customs authorities. The report includes a review of spot price movements during April to June and a look ahead to the important factors likely to drive the market in the third quarter of the year.
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