Page 9 - GLNG Week 25
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GLNG asia GLNG
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Jan-19 Feb-19
Japan
Mar-19 Apr-19 China South Korea
May-19
Counting costs
May, marginally up from the 2.77mn tonnes it imported in the same month of 2018. e total received in 2019 reached 16.7mn tonnes, down from the 18.94mn tonnes during the same ve months of 2018.
Costs in May reached $1.43bn, and $9.18bn for the year thus far. Costs for the first five months of 2018 reached $9.28bn.
Extrapolating data from the rst ve months for the three Asian importers over the entire year would suggest South Korea will import 40.68mn tonnes, China 57.5mn tonnes and Japan 80mn tonnes.
While LNG spot prices have fallen, this
does not show the real prices for most Asian consumption. As senior fellow in the energy programme at the Center for Strategic and Inter- national Studies (CSIS), Nikos Tsafos, pointed out recently, around two thirds of the gas con- sumed in Asia was priced with some connection to oil in 2018.
Platts’ JKM price is becoming increasingly important, he noted, but this is not an Asian LNG price. “It is a spot price, and until existing long-term contracts are converted to JKM or some other marker, it will be important to main- tain that distinction in how we think and talk about Asian LNG prices.”
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Jan-19 Feb-19
Japan
Mar-19
China
Apr-19
May-19
Import volumes
South Korea
Week 25 27•June•2019 w w w . N E W S B A S E . c o m P9
Million tonnes
US$ billion
