Mideast Buying Offers Support For Weak Global LNG Market

New regional buyers Egypt, Jordan, Kuwait and Pakistan are providing what little support there is in a weak global LNG market.

Global LNG demand and prices have been weak in the first nine months of 2015, with East Asian spot prices standing at around $7/mn BTU currently, down from around $12/mn BTU a year ago. The world’s three largest importers – Japan, South Korea and China – are all set to take lower volumes this year, and this at a time when new production, from Australia in particular, is coming onstream. For Q1-3 2015 the three countries’ collective imports were down by 5%, or almost 2mn tons on a year earlier (see graphs). (CONTINUED - 717 WORDS)