LNG Market Outlook: Winter Import Growth Reliant on Weather, Storage Levels

This current feature was extracted from the latest edition of Poten’s LNG Market Outlook, a monthly service published on October 25, 2024.

Storage levels, weather, geopolitics and prices are all primary market drivers influencing LNG demand, with winter demand in focus. Weather is currently mild in most of Europe and China at the time of writing, but colder weather patterns due to La Nina’s effect will drive LNG demand higher over the next five months. Winter LNG imports for Europe are forecast at 65.6 MMt in 2024/2025 – up from 61.7 MMt in the winter of 2023/2024 and 42.4 MMt from April through September 2024. A normal winter depletes storage levels and drives LNG demand higher. European LNG imports are expected to increase to 69 MMt in the winter of 2025/2026.

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