Global LNG market review – March 2024

The world traded 71 million tonnes of LNG during the first two months of 2024, increasing 2% year-on-year. While China imported 13.20 million tonnes, 19% larger than the same period of 2023, Japan and the European Union and the United Kingdom combined decreased theirs by 8% and 6%, respectively. As the global LNG market has gone through the Northern Hemisphere winter, prices have been relatively stable. However, as transportation bottlenecks remain in the Red Sea / Suez Canal and the Panama Canal, the LNG industry should remain vigilant on supply security issues.