Asian LNG markets to tighten from early May

Tuesday, 06 April 2021

Though the Suez Canal Suez blockade has caused much of an uproar on global shipping markets, it only had a modest impact on LNG shipping and spot LNG prices in Asia where supply is forecast to tighten from the end of April. Come early May, the start of the maintenance season will see several Australian liquefaction plants go offline: Gorgon, North West Shelf, Ichthys, Queensland GLNG and APLNG – removing a combined 3.1 million tons of Pacific LNG supply in Q2-2021 which is likely to change the energy balance in China.

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