Asia’s imports of liquefi ed natural gas (LNG) are set to reach a six-month high in July, while Europe’s LNG imports are expected to fall to their lowest level in nearly two years, refl ecting a major shift in global gas trade fl ows.
According to commodity analytics fi rm Kpler, Asia is expected to import 23.05 million metric tonnes of LNG in July, up 6 percent from June and marking the fourth consecutive monthly increase.
The recovery has been driven largely by stronger demand from China, the world’s largest LNG importer, whose purchases are forecast to reach 5.62 million tonnes, the highest level since January.
The rebound follows a decline in LNG prices after earlier volatility triggered by Middle East tensions.
However, renewed confl ict involving Iran and the continued disruption of shipping through the Strait of Hormuz have pushed spot LNG prices higher again, raising concerns over future supply