Asia's LNG imports slip as soft China, Japan outweigh stronger India: Russell

LAUNCESTON, Australia, May 2 (Reuters) — Asia’s imports of liquefied natural gas (LNG) fell in April as major buyers China and Japan trimmed purchases, offsetting small gains among South Asian countries.

The total volume of the super-chilled fuel imported was 20.86 million tonnes in April, down from March’s 22.23 million and 22.19 million in February, according to data compiled by commodity analysts Kpler.

At the same time that volumes were slipping in Asia, Europe was buying more LNG, with imports rising for a third straight month in April, reaching 12.50 million tonnes, the most since December.

Europe’s LNG demand has shifted structurally higher as pipeline supplies from Russia were curtailed in the wake of Moscow’s invasion of Ukraine in February last year.

However, the healthy state of European gas inventories does raise the possibility that LNG imports will steady or drop somewhat in coming months as utilities pare purchases for stock-building.

Conversely, Asia’s LNG purchases may increase as price-sensitive buyers such as India and Pakistan ramp up imports amid a declining spot price.

The price of spot LNG for delivery to north Asia