LNG data Q3 ‘18: Asian import growth outpaces supply increase

LNG supply increased by 5.19 mt (7.1%) in Q3 ‘18. It marked an acceleration in the growth rate compared with Q2, as mid-year maintenance on several liquefaction plants came to end and output from Wheatstone Train 2 in Australia and Yamal Train 2 in Russia, commissioned in June and August 2018 respectively, built up to full capacity.

Asia’s LNG imports increased by 7.42 mt (14.5%) in Q3 and by 21.3 mt (13.7%) in the first nine months of the year. The quarterly increase was significantly higher than the growth of 5.19 mt in overall global production.

Initial estimates for LNG supply in October indicate that the acceleration has continued, with supply up by around 14% for the month. The outcome for Q3 takes the increase in supply in the first nine months of 2018 to 14.88 mt (6.9%) compared with the same period of 2017.