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Shi Weijun
Shanghai
16 March 2023
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Subdued Asian LNG interest produces large stockpiles

Weak prices support demand but mild weather, delayed gas projects, large reserves and nuclear alternatives set to blunt upturn

Those fearing a potential global gas crunch later this year will take heart from tepid Asia-Pacific LNG activity, which saw the JKM benchmark for spot Asia-Pacific cargoes hit its lowest level in March since July 2021. The lull in prices has incentivised the return of some Chinese players and is likely to attract price-sensitive markets in Asia, which are now looking to resume purchases. But overall demand remains subdued when it comes to the main import markets, with the weather playing a key role. China, Japan, South Korea and Taiwan are set to finish the winter with 3.4mn t more LNG in reserve than a year earlier, weighing on summer requirements to refill tanks for the peak summer cooling

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Countdown to Mozambique LNG restart
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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