Global LNG trade flows: The Philippines and Vietnam import their first cargoes

The global LNG industry saw some green shoots of growth in the second quarter of the year, with lower spot gas prices enabling new importers to enter the market, especially in southeast Asia. The Philippines and Vietnam imported their first ever cargoes. Thailand has been increasing its LNG imports too, while other Asian buyers including China, India, Pakistan and Bangladesh have been able to return to spot and long-term markets in greater strength, including the opening of a new FSRU in Hong Kong. The extreme price spikes seen in 2022 have continued to prompt buyers to seek new long-term contracts […]