◂ Event Timeline

May 1, 2024TRADEAsia

COMMENTARY: Asia takes LNG that Europe doesn't need as spot price stays muted

Asian LNG imports rose sharply in March 2024 as buyers took advantage of lower spot prices to draw cargoes away from Europe. Asia's demand is pulling supply from the European market.

WHY IT MATTERS

Shifting LNG flows toward Asia reflect soft spot prices and give limited support to global gas prices, with no direct feed impact.

AFFECTSNatural Gas◆

SOURCE
reuters.comClyde RussellMay 1, 2024

Price reaction & history

Natural Gas◆neutralSO FAR1d -3.0%5d +13.4%20d +28.1%

After 17 past neutral trade events, Natural Gas moved a median -0.6% over 5 sessions (47% higher; middle half -4.7% to +1.5%), and -4.3% over 20.

Dec 2, 2024US LNG exports to Europe surge in November on higher prices-12.6%
Apr 3, 2019U.S. LNG producers offer alternative pricing to woo buyers - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com-0.6%
Jan 28, 2019Europe set for 'genuine' LNG demand in coming years: industry-13.0%
Oct 3, 2022More U.S. LNG heads to Europe despite output constraints | Reuters-1.3%
Apr 30, 2020Cheniere Chief Says Price Negotiations, Force Majeures Off the Table During Pandemic+6.9%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Natural Gas NATGAS · GP ▸

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