China imports more LNG but not enough to drive spot prices: Russell

(The opinions expressed here are those of the author, a columnist for Reuters)

By Clyde Russell

LAUNCESTON, Australia, July 6 (Reuters) — China’s imports of liquefied natural gas (LNG) rose to a five-month high in June but tepid demand in the rest of the top-importing continent has kept a lid on spot prices.

China, the world’s second-biggest LNG buyer, is estimated to have imported 5.96 million metric tons of the super-chilled fuel in June, according to data compiled by Refinitiv.

This is the most since January and up from 5.54 million metric tons in May, as well being 28% higher than the 4.64 million offloaded in June last year.

The decline in the spot price for cargoes delivered to north Asia