{"id":44778,"date":"2025-01-07T16:51:07","date_gmt":"2025-01-07T16:51:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/europes-december-lng-imports-surge-as-asia-demand-climbs\/"},"modified":"2025-01-07T16:51:07","modified_gmt":"2025-01-07T16:51:07","slug":"europes-december-lng-imports-surge-as-asia-demand-climbs","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/europes-december-lng-imports-surge-as-asia-demand-climbs\/","title":{"rendered":"Europe\u2019s December LNG imports surge as Asia demand climbs"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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Europe\u2019s imports of liquefied natural gas during December clocked a 11-month high even as Asia recorded higher arrivals, according to a Reuters report<\/a>. <\/p>\n

Europe imported 10.89 million tonnes of LNG in December, compared with 8.86 million tonnes in the previous month, the news agency quoted data from Kpler. <\/p>\n

Imports were also highest since January\u2019s 11.18 million tonnes last year, the data showed. <\/p>\n

Usually, imports rise in the winter months as demand for heating at offices and homes increases. <\/p>\n

Imports also surged ahead of the end of the transit deal between Ukraine and Russia.<\/p>\n

A deal allowing Russian gas to transit through Ukraine pipelines to Europe came to an end on December 31.\u00a0<\/p>\n

Ukraine did not renew the deal as the country is in a war against Russia since early 2022. <\/p>\n

However, the surge in imports by Europe did not come at the expense of arrivals in Asia, Reuters said. <\/p>\n

Asia is the world\u2019s largest importer of LNG.\u00a0<\/p>\n

Asia arrivals higher in December<\/h2>\n

Arrivals also rose in Asia as the continent\u2019s arrivals were clocked at 25.63 million tonnes in December, compared with 22.64 million tonnes in the previous month. <\/p>\n

According to Kpler data, arrivals into Asia during December were also highest since January when imports touched 26.19 million tonnes. <\/p>\n

Asia\u2019s imports in December were lower than the corresponding month in 2023, according to the report. <\/p>\n

Asia\u2019s imports were 3.6% lower from the 26.58 million tonnes shipped in the same month in 2023. <\/p>\n

Likewise, Europe\u2019s December imports were also lower than the 11.75 million tonnes imported during the corresponding month in 2023, according to the report. <\/p>\n

Warmer-than-expected temperatures in Asia and higher spot prices weighed on imports of LNG during December. <\/p>\n

China imported 7.66 million tonnes of LNG last month, which was lower than 8.20 million tonnes for the same month in 2023. <\/p>\n

The Asian giant is the world\u2019s top importer of the fuel.\u00a0<\/p>\n

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Source: Reuters<\/a><\/figcaption><\/figure>\n

Similar declines were recorded in Japan and South Korea, according to the report. <\/p>\n

Meanwhile, in India, Asia\u2019s fourth largest buyer of LNG, imports increased slightly to 1.94 million tonnes last month from 1.86 million tonnes recorded in December 2023. <\/p>\n

However, rising cargo prices have curtailed India\u2019s imports of LNG over the past six months. <\/p>\n

India\u2019s imports peaked in June when arrivals were at 2.60 million tonnes.\u00a0<\/p>\n

LNG prices<\/h2>\n

Spot prices for LNG delivery to Asia was at $8.30 per million British thermal units (mmBtu) in early March, the lowest level of 2024, Reuters said. <\/p>\n

Indian buyers would have booked spot cargoes at these prices, which were delivered until June. <\/p>\n

Hence, the rise in imports in June.\u00a0<\/p>\n

However, prices rose from March onwards, hitting $12.60 per mmBtu by the middle of June. <\/p>\n

Subsequently, prices traded at $14.10 in August and peaked at $15.10 by the end of November, according to the report.\u00a0<\/p>\n

Prices have since declined somewhat to around $14.60 per mmBtu in the week ended January 3. <\/p>\n

A price level above $10 per mmBtu has discouraged India to purchase more spot cargoes. <\/p>\n

Demand in Europe<\/h2>\n

Natural gas prices across Europe are likely to remain higher as forecasts of a colder winter boost demand. <\/p>\n

Storages of natural gas in Europe have also dropped to just over 70% as of last week compared with 85% from the same period last year. <\/p>\n

It is also below the five-year average of 76%.\u00a0<\/p>\n

The end of the Russia-Ukraine transit deal would mean that there would be further declines in storages in Europe. <\/p>\n

It is also likely to continue higher purchases of LNG in the coming months.\u00a0<\/p>\n

According to Reuters, Europe also the option of purchasing LNG from the US, which could be sufficient enough to meet domestic demand. <\/p>\n

Imports from the US hit an 11-month high of 5.22 million tonnes in December, was significantly higher than 2.30 million tonnes from July, which was the lowest level last year. <\/p>\n

The post Europe\u2019s December LNG imports surge as Asia demand climbs<\/a> appeared first on Invezz<\/a><\/p>\n

Source link <\/a>
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(Originally posted on : Invezz ) Europe\u2019s imports of liquefied natural gas during December clocked a 11-month high even as Asia recorded higher arrivals, according to a Reuters report.  Europe imported 10.89 million tonnes of LNG in December, compared with 8.86 million tonnes in the previous month, the news agency quoted data from Kpler.  Imports […]<\/p>\n","protected":false},"author":3947362381,"featured_media":44779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[39],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44778"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362381"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44778"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44779"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}