Oil & Energy
Global LNG Flows Diverge as Asia Imports Rise, Europe Demand Eases, Vortexa Says
Asia's liquefied natural gas imports rose last week, supported by expectations of above-average summer temperatures in Northeast Asia, while European demand remained subdued amid mild weather and strong storage levels, Vortexa analysts said in a weekly note on Monday.Vortexa analysts said aggregate Asian LNG arrivals reached 4.6 million metric tons, or 77 cargoes, about 5% above the four-week average.China led regional demand strength with imports of 1.2 million mt, or 20 cargoes, the highest since February, as forecasts pointed to warmer-than-usual weather in southern China.Japan's arrivals climbed to 1 million mt, or 18 cargoes, about 25% above its four-week average, while South Korea imported 900,000 mt, or 15 cargoes, 10% higher over the same period.South Asia showed a more mixed picture. India's LNG receipts fell to 400,000 mt, five cargoes, about 30% below its four-week average, after a recent heatwave-driven spike faded.Pakistan received two LNG cargoes from QatarEnergy, totaling 200,000 mt, which were delivered via the Strait of Hormuz following a bilateral Pakistan-Iran arrangement allowing transit.Vortexa said the spot LNG price spread between Europe and Asia narrowed to an average of $1.5 per million British thermal units last week, down by over 30% from the previous week.LNG demand in Europe remained under pressure from mild weather and ample storage. Total EU LNG send-out averaged 4,000 gigawatt-hours per day, about 5% below its four-week average. Continent-wide imports were broadly stable at 2.2 million mt, or 37 cargoes.France's receipts of 400,000 mt were in line with recent averages, with higher flows into the Dunkirk terminal offsetting a month-long outage at the Montoir facility.UK imports of 100,000 mt, or two cargoes, returned to near seasonal norms, while Italy saw a 30% drop in shipments to 200,000 mt amid expectations of stronger hydropower output. Turkey recorded no LNG imports last week as warmer temperatures reduced gas demand.EU gas storage levels ended the week at 36% capacity, 13 percentage points below the five-year average.UAE LNG loadings continued for a third consecutive week, with the Umm Al Ashtan carrier lifting 100,000 mt at Das Island following a window of AIS-disabled or "dark" transit through the Strait of Hormuz, the energy analyst firm said.Satellite data showed the vessel had disabled its AIS signal before entering the chokepoint, consistent with recent cargo movements involving other carriers. Qatar also loaded two cargoes last week, with one already discharging in Kuwait.Australia's LNG exports fell about 5% over the week to 1.4 million mt, or 21 cargoes, weighed by maintenance at the Pluto LNG terminal and planned industrial action across multiple facilities, including Inpex's Ichthys and Woodside-operated plants.US exports held steady at 2.5 million mt despite maintenance at Freeport LNG and Cameron LNG, while Norway's Hammerfest terminal resumed limited activity following an outage.Russian LNG flows remained under scrutiny, with multiple cargoes linked to sanctioned Arctic LNG 2-related volumes continuing to move through transshipment hubs near Murmansk.One vessel departed the Saam floating storage unit last week after receiving a cargo transferred from an Arc7 tanker, while additional shipments were observed heading toward Asia.