Commodity Market Report

LNG short-term outlook: May 2023

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Global gas prices plunged in May. European gas demand has failed to respond so far, particularly in the industrial sector, propelling prices into the $7-8/mmbtu range. Demand in emerging markets has already started to respond to declining prices – India, Thailand, Pakistan and smaller Southeast Asian markets. However, above-average storage levels and mild temperatures in Japan and Korea have kept LNG demand and the need for injection muted. China’s GDP growth rebounded in Q1 but growth in industrial sector remains below expectations.

Table of contents

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

Tables and charts

This report includes 1 images and tables including:

  • Updated: 31 May 2023

What's included

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  • Document

    Short Term Outlook (Data).xlsx

    XLSX 281.78 KB

  • Document

    LNG Short Term Outlook.pdf

    PDF 2.02 MB