UK set for LNG glut as Asian demand falls

A drop in Asian demand has led to a sharp up-tick in LNG cargoes due into Britain in March, and traders expect the trend to continue into the start of the gas summer.

Britain’s South Hook LNG terminal received just six vessels between October and February, however the site is already poised to take in up to five tankers in March, according to algorithmic data from LNG Edge.

ICIS looks at the drivers behind dwindling Asian demand, the evolution of Britain-Asia price spreads, and how this has created arbitrage opportunities to divert cargoes to Europe.

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