Asian LNG Imports Hit Record High In 2016; Global Supply Glut Yet To Come

Combined LNG imports for the five Asian countries which constitute the top five global importers rose to record levels in 2016, as record buying from India and China combined with nuclear outages supporting demand in the top two buyers Japan and Korea. Taiwan also saw record imports.

Production from new plants in Australia and elsewhere was mostly absorbed by Asian buyers, but at the ‘cost’ of pushing down prices. As more LNG comes online during 2017, the ability of Asian buyers to soak up additional supplies will be further tested for this year.

Collective imports to the global ‘top 5’ reached 175.1mn tons in 2016, up 4.7% on 2015’s 167.5mn tons and 1.2% above the previous record of 173mn tons set in 2014. (CONTINUED - 1633 WORDS)

DATA INSIDE THIS ARTICLE

chart 1: Lng Imports From World’s Top Five Buyers Rise 5% To Record 175.1mn Tons In 2016...
chart 2: ...Records From China, India & Taiwan More Than Make Up For Weak Demand From Top Two Buyers Japan & S Korea
chart 3: Asian Lng Prices ($/Mn Btu):
chart 4: Qatar’s Sales To Asia Have Fallen Both In Absolute (Mn T)...
chart 5: ...And Relative Terms (% Of Country’s Total Imports)
chart 6: Australia, In The Process Of Overtaking Qatar As Global Top Producer, Is Now #1 In Two Of The ‘Big 3’ Asian Markets