Weekly LNG imports into N Asia rise 7% on surge in Qatari supply to China

Friday, August 17, 2012

North Asian countries -- China, Japan, Taiwan and South Korea -- imported 125.10 Bcf gas equivalent of LNG, or 2.57 million mt of LNG, for the week ended August 15, a 7.3% gain from the previous week, according to port and satellite data compiled by Bentek Energy, a unit of Platts.

The increase was mainly due to a surge in Chinese imports, at 16.08 Bcf of gas equivalent, or 330,252 mt of LNG, more than double imports of 6.07 Bcf of gas equivalent in the previous week, according to the data.

The increase was due to term cargoes, largely from Qatar, according to Platts cTrack shipping data. In the week ended August 15, two vessels with capacities totalling 476,000 cubic meters, or 10.24 Bcf of gas equivalent, arrived in China from Qatar, compared to no vessel arrivals from the Middle Eastern country in the previous week.
The four LNG carriers have a total volume of 16.36 Bcf of gas equivalent, but delivered 16.08 Bcf to the terminals, according to Bentek. LNG cargoes discharge less than what is loaded due to boil-off, and the need to keep the storage tanks chilled on the return leg of the journey.

LNG imports into Japan and Taiwan, however, fell to 73.24 Bcf and 11.62 Bcf of gas equivalent, respectively, in the week ended August 15, down 2.6% and 6.1% from the previous week, according to the Bentek data.

For more information please visit Platts Website.