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Commodity Market Report

Global short-term LNG demand tracker (Q2 2023)

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Southeast Asian demand growth remains sluggish due to higher-than-average gas stock levels and mild weather. However, emerging economies in South Asia and Southeast Asia have shown price elastic demand. India, Bangladesh, and Thailand have been active in the spot market. Even though Chinese big buyers have stayed shy in responding to prices, mid-tier traders have been active in the market. European gas demand for power may increase marginally since gas prices have become competitive against coal, but non-power - mainly industrial - demand has been non-responsive due to a sluggish macroeconomic outlook. Having said that, the early June weather forecast in Asia, particularly China and Japan, shows more than average temperatures and can push power demand in the Atlantic.

Table of contents

  • Market prices hit a 2-year low, desperately seeking some tangible demand response
  • Related reports

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  • Document

    LNG Short Term Demand Q2 2023 (Data).xlsx

    XLSX 2.28 MB

  • Document

    LNG Short Term Demand Q2 2023.pdf

    PDF 2.94 MB