Although Northeast Asia’s LNG demand will grow on an annual basis over the summer, key buyers may have a relatively limited need for spot cargoes.
Japan’s LNG imports have risen on an annual basis since the start of 2017. The country’s imports increased by around 5.5% year on year over the first four months of the year. However, although Japan may need extra LNG over the summer months, any growth in imports seen is expected to be met largely by long-term contracts. Japan has been less active on the spot market, and the country’s need for additional summer cargoes looks limited. Key Japanese buyers could therefore remain quiet, limiting demand-side support for spot prices.
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