March LNG Market AnalysisTags: global lng market, LNG, LNG exports, LNG imports, russia lng exports, U.S. LNG exports
Global export loadings of liquefied natural gas last month totaled approximately 31.1 million tons on board 506 vessels, considerably higher than March 2018’s pace of 24.5 million tons on 414 vessels. Approximately 30.6 million tons arrived at import terminals last month, compared to 25.6 million tons in March 2018.
Northeast Asia took in 15.2 million tons of LNG last month, a 4 percent increase from March 2018. For South Asia, the 3.4 million tons imports last month represents a 15 percent increase from year-ago levels. Ship-to-ship transfers at Honningsvag in Norway, commissioned only in November, were 1.4 million tons, about 100,000 tons lower than the previous month.
The Asia-Pacific region exported about 6.3 million tons of LNG last month, a 30 percent increase year-on-year, but only slightly higher than the 6 million tons delivered in February. Exports from the Middle East came in at 7.9 million tons, a slight decline from February’s pace of 8 million tons.
US exports last month increased 54 percent year-on-year to 1.7 million tons, somewhat higher than February’s volume. Northern Russia loaded 1.64 million tons, a slight increase from February’s level of 1.56 million tons, but a jump from the 1.1 million tons laded last year – a result of new LNG trains in commission.
India imported 1.85 million tons of LNG in March, with 28 vessels arriving at different terminals across the country. Petronet accepted 10 vessels, Gail took on six, GSPC and Reliance each took three, IOC and Essar Steel took two apiece, while Torrent Power and Hazira LNG received one vessel each. In terms of suppliers, the Middle East was strong, sending 16 cargoes.
Pakistan imported eight cargoes of LNG last month, with six cargoes going to Pakistan State Oil and two going to Pakistan LNG. Price analysis based upon customs data of India and Pakistan is illustrated below:
About The Author
Kaleem looks after LNG analytics product development and analysis. Kaleem has extensive experience in downstream oil & gas with focus on LNG, petrochemical & polymer trade and analytics. He was involved in LNG import infrastructure development in South Asia, with a focus on international trade, LNG origination and gas marketing. Kaleem holds a Master’s degree in Business Administration from the Institute of Business Administration, Karachi, Pakistan. He is a member of the Association of International Petroleum Negotiators.