Imports East of Suez Hit Record High as Demand Surges

Shuttered nuclear plants in Japan and robust economic growth elsewhere in the region have sent LNG demand up to record highs in markets east of Suez. According to Poten & Partners LNGas 2.1, deliveries into regional markets reached 86.5 MMt during the first seven months of the year, registering a 14.4% rise over the comparable period of 2010. Increases were spread across all regional importers and included the first ever LNG imports into Thailand. Japan saw the largest volume hike of 3.7 MMt over last year as nuclear power plant utilization dropped to its lowest level ever. Elsewhere in the region, demand is more structural in nature, driven by strong economic performances in major importers and a shift away from expensive oil products. Download here