Asian LNG demand may tighten market

Demand, rather than supply issues, could keep prices high next year

LNG balances may become further stressed next year if demand rebounds in Asian countries—in particular, China and India—prolonging the energy price spike that has pressured the global economy. “We may well see that the LNG markets in 2023 will be rather tight, maybe tighter than this year,” IEA executive director Fatih Birol told the late-September LNG Producer-Consumer Conference. One of the reasons why Europe has been able to boost LNG imports “by a staggering 60pc” this year has been “sluggish economic growth” in China, Birol says. “If the Chinese economy recovers... it will be difficult for Europe to attract so much LNG.” “We may well see that the LNG markets in 2023 will be rather