The latest LNG Edge: Q3 2018 Trade Flow Report by LNG analyst, Alex Froley, shows how strong East Asia demand boosts Q3 prices.
Strong demand during the third quarter of 2018 from the key import region of east Asia gave a bullish sentiment to spot prices, which saw little of the traditional “shoulder months” dip. East Asia spot LNG was valued at up to $12.00/MMBtu during the quarter, up to twice the level of the previous year, out-stripping rises in competitor fuels such as crude oil.
China’s growth remains strong across the year, not just a winter phenomenon. The country’s January-September 2018 imports of 36.6 million tonnes are up 45% from the 25.2m tonnes recorded for the same nine months of 2017. South Korea has also shown strong demand compared to last year, likely due to reduced nuclear power generation, while Japan’s demand stepped up from the second quarter to the third quarter as the country increased gas-fired power generation to produce electricity for air-cooling units during a record heatwave.
The latest LNG Edge: Q3 2018 Trade Flow Report by LNG analyst, Alex Froley, shows how strong East Asia demand boosts Q3 prices. The report draws on the latest voyage data from 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.
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