Global short-term LNG demand tracker (Q3 2023)
Global LNG market has experienced volatility in the month of August due to the potential risk of strikes at two of Chevron’s terminals in Australia. Barring industrial action, market is fairly supplied and might experience slump. Due to a lack of flexibility before the winter, we anticipate some floating storage to accumulate between September and October. If prices drop, we might see a firm demand response from price sensitive markets in south and Southeast Asia. Even though European power demand might just be responsive to competitive LNG prices against coal, industrial demand has been battered by inflation and higher interest rates.