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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).
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