Global LNG trade strengthened last week as Asian heatwaves lifted cooling demand, European imports rebounded, and major exporters increased shipments, Vortexa said Monday in its LNG Weekly.
Asian LNG arrivals reached 4.8 million metric tons in 77 cargoes, among the strongest weekly levels since the first quarter. India imported 0.6 million tons in 10 cargoes, with its 14-day moving average at a seasonal record as buyers secured fuel for power generation and fertilizer production. Pakistan received two cargoes, including a Qatari shipment aboard the Liberian-flagged vessel Lebrethah, following a dark transit through the Strait of Hormuz.
China's imports eased to 1.0 million tons in 16 cargoes, their lowest since early May, although the country received its first Qatari LNG cargo since March. Imports into Japan and South Korea remained broadly in line with recent averages. Asian spot LNG prices traded at an average premium of $2.3 per million British thermal units over Europe, keeping the Atlantic-to-Asia arbitrage open.
European LNG imports rose to 2.1 million tons in 35 cargoes, the highest weekly total in a month. France's Montoir terminal received its first cargo since early May following maintenance, lifting national imports about 30% above their four-week average. French LNG demand could remain supported by potential nuclear output restrictions linked to elevated river temperatures. EU gas storage ended the week 44% full, 14% percentage points below the five-year average.
On the supply side, US LNG exports rebounded to 2.7 million tons in 40 cargoes, their strongest week since the first quarter, as Cameron LNG recovered from downtime and Freeport LNG completed maintenance. Australia exported 1.7 million tons in 25 cargoes, more than 15% above its four-week average, despite ongoing industrial action at the Ichthys LNG plant.
Qatar loaded three LNG cargoes last week, and several QatarEnergy-controlled vessels reappeared on AIS tracking systems after transiting the Strait of Hormuz without transmitting signals. The vessels are bound for China, Pakistan, and India, highlighting continued LNG flows through the strategically important waterway.
Meanwhile, Russia completed its earliest post-winter Northern Sea Route LNG delivery since 2020. The sanctioned ice-class Christophe de Margerie discharged an Arctic LNG 2 cargo into the Koryak floating storage unit in Kamchatka after an 18-day voyage. The cargo is expected to be transferred to the Arctic Mulan for delivery to China, while eight additional Arctic LNG 2 cargoes are already en route to Chinese buyers.