LNG Prices Leap On Record Chinese Buying

• Prices for Asian spot LNG imports have jumped to around $9/mn BTU for December arrival cargoes. December is the peak month for winter (and thus annual) buying.

• China is the key demand driver. Already for the first nine months of 2017, imports at 25.63mn tons, were up by a whopping 43% on the same period last year, and only just shy of the 26.15mn tons figure for 2016 as a whole (see chart 1).

• Bumper Chinese spot buying in recent weeks means that imports for December (and possibly November too) are set to top the all-time monthly record of 3.73mn tons set in December 2016. (CONTINUED - 396 WORDS)


chart 1: Chinese Lng Imports Are Set For A Record 2017. Q1-3 Volumes, At 25.6mn Tons, Are Up 43% Y-O-Y (Mn T)
chart 2: Asian Spot Lng Prices At Near-3 Year High On Record Chinese Buying ($/Mn Btu, By Arrival Month)