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Global conventional LNG trade suffered a significant reduction in February, retreating by 3.45mmt down to 32.27mmt (-9.7%) from the 35.72mmt recorded in January. However, February’s performance in 2020 still marks an increase of 2.64mmt over 2019, equating to 8.9% year-on-year growth. At the time of writing, 1.83mmt (5.7%) of the exported 32.27mmt in February remain to be delivered; their current delivery horizon is 31 March.
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Subsequent to the SK Resolute’s departure from Cameron LNG for China, three more vessels – the Hoegh Giant, the Cool Explorer and the Palu LNG – are now also en route. If completed, these trades would mark the first U.S. LNG exports to China in more than a year whilst fierce competition and the Petronet force majeure weigh on Asian spot prices.
talian LNG demand is facing a drastic monthly decrease as public health measures including an emergency decree by the Italian government have halted the majority of public and industrial activities in March.
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