LONDON, October 19, 2017 /PRNewswire/ --

Data from LNG Edge, which is part of the ICIS LNG Market Intelligence Solution, shows that global LNG supply increased 10% in the third quarter of 2017 from the previous year. Chinese demand increases helped absorb new supply.

     (Logo: http://photos.prnewswire.com/prnh/20160408/353056LOGO )

New liquefaction projects coming onstream in Australia and the US drove the year-on-year increase in global LNG supplies in the third quarter of 2017, permitting increases in demand in most import regions around the world, according to the new quarterly Trade Flow Report released on Thursday, 19 October, by LNG Edge.

The report shows that East Asia's imports for Q3 2017 were up 13% from the third quarter of the previous year, driven in particular by higher consumption in China and South Korea. Imports to the world's single biggest LNG importer, Japan, slipped back slightly on the year.

Europe also had an annual increase in deliveries, rising by 19%, particularly to the Mediterranean countries of Spain, Portugal and Italy, where Atlantic basin and Middle Eastern producers may have found a convenient home for spare cargoes.

Spot LNG prices trended higher across the quarter, with the ICIS East Asia Index rising from $5.50/MMBtu at the start of the quarter to $8.70/MMBtu by its end. Prices increased sharply, particularly in east Asia, in late September, when disrupted loadings at the US Sabine Pass facility after Hurricane Harvey led producers to buy cargoes to cover short positions in the Pacific.

"Spot prices have shown strong gains in the approach to winter," said LNG market analyst Alex Froley. "The market will now be watching to see the impact of new projects due onstream in the next few months in Australia, Russia and the US."

Australia's Wheatstone, Russia's Yamal LNG and the US Cove Point project are all due to load their first cargoes this winter.

Download the report now

https://www.icis.com/contact/q3-lng-supply-rises-10-on-us-australian-projects/

Find out more about LNG Edge, which is part of the ICIS LNG Market Intelligence solution:

https://www.icis.com/energy/liquefied-natural-gas/lng-market-intelligence-solution/

About ICIS 

ICIS is the world's largest petrochemical market information provider, with divisions spanning energy and fertilizers. Our aim is to give companies in global commodities markets a competitive advantage by delivering valuable information and analytics tools which enable our customers to identify and react to opportunities in markets which are constantly evolving. We have more than 30 years' experience of providing pricing intelligence and news, forecast data, market analytics and independent consulting to buyers, sellers and analysts.

With a global staff of more than 600, ICIS has employees based in London, Houston, New York, Singapore, Dubai, Shanghai, Guangzhou, Beijing, Mumbai, Tokyo, Karlsruhe, and Milan. ICIS's team of journalists is engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.

ICIS is a division of Reed Business Information, part of RELX Group.

About Reed Business Information 

Reed Business Information provides information, analytics and data to business professionals worldwide. Our strong global products and services hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group, a world-leading provider of information and analytics for professional customers across industries. http://www.reedbusiness.com

About RELX Group 

RELX Group is a world‐leading provider of information and analytics for professional and business customers across industries. The group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. The total market capitalisation is approximately £33.7bn|€37.7bn|$44.3bn. www.relx.com

Media contacts

Ed Cox 
Editor - Global LNG 
ed.cox@icis.com 
+44-207-911-1772

Copyright 2017 PR Newswire