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China and Korea compete for winter LNG

LNG Industry,

PIRA Energy Group believes that Korea and China will compete for incremental winter liquefied natural gas (LNG) cargoes. Analysis of natural gas market fundamentals has revealed the following:

Chinese and Korean competition
In the key Asian growth markets of Korea and China, the competition is on for incremental winter LNG cargoes. Korea is showing growth related to fuel substitution and seasonal use, while growth in the Chinese market will come from new import infrastructure opening up new markets.

Demand indicators from last month show no decrease in the pace of incremental buying by Korea. The activation of these two ports will increase Chinese import capacity, and aside from weather in northern China, two new markets will be opened without the corresponding addition of dedicated new supplies. This will result in more buyers for the same volume of LNG.

Adapted from press release by Katie Woodward

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