Asian Imports Hold Up as Buyers Forced to Take Cargoes

摘要

Northeast Asian LNG imports held steady against year-earlier levels in the first six months of 2020, even though coronavirus depressed downstream gas demand in many key markets. China's imports rose over 10%, evidence of the cautious economic recovery under way since lockdowns began to lift in March, as well as Chinese buyers' shift from more expensive piped gas imports (p3). But the seemingly strong performance also reflects the fact that many Asian buyers are locked into rigid long-term deals that offer little scope for cargo rescheduling and resales even in a market downturn (WGI Jul.15'20).