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China, South Korea are top destinations for US LNG in July as Europe's market share drops
China, South Korea are top destinations for US LNG in July as Europe's market share drops
spglobal.com | 02 Aug 2024
China and South Korea were the top destinations for US LNG delivered in July, as flows of American volumes to Europe dropped to their lowest level since September 2021, an S&P Global Commodity Insights analysis showed Aug. 2.
Rising demand in the Pacific Basin, particularly in southeast Asia, contributed in July to the decline in US LNG cargoes shipped to Europe, which received less than half of the US volumes delivered for the third consecutive month. Europe, including Turkey, imported 34 from the US in July, or less than one-third of US LNG cargoes delivered throughout the month.
China and South Korea each received 11 US LNG cargoes in July, followed by Japan with nine, and India, the Netherlands and Argentina, each with eight, Commodity Insights data showed. The US cargoes arriving in Europe plus Turkey represented a decline from the 43 delivered in June, while Asia received 49 cargoes in July, up from 39 in June.
Shipments to India, which was one of the top destinations for US LNG delivered in June, came as hotter-than-expected temperatures continued to drive demand in the region.
The overall 117 US LNG cargoes delivered in July marked an increase from June, when 104 cargoes were delivered. The increase reflected the majority of cargoes headed for the Asian-Pacific opting for the longer route around the southern tip of Africa amid constraints at the Panama and Suez canals...more
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/lng/080224-china-south-korea-are-top-destinations-for-us-lng-in-july-as-europes-market-share-drops
"The bashing of China will continue until morale improves"
The United States was the world's largest liquefied natural gas exporter in 2023
https://www.eia.gov/todayinenergy/detail.php
USA! USA! USA!
Meanwhile, Kindly keep those subsidies coming. THANKS! - "Big Oil"
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