Asia Pacific: Trade
Northeast Asian LNG imports are expected to rise on an annual basis in Q3, supported by strong growth in China.
Northeast Asia’s LNG imports are expected to increase by around 3% year on year in Q3. China’s gas demand is expected to continue to grow, supported in part by reduced prices. The country’s growing supply-demand gap means it will need more LNG. China’s LNG imports shot up by 27% year on year in May, the highest level of annual growth seen so far this year. New volumes from Australia will support the increase in Chinese imports over the coming months. China’s pipeline imports are also expected to continue to grow over the next few months, following a rise of 17% year on year in May.