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North Asian countries - China, Japan, Taiwan and South Korea - imported 125.10 Bcf gas equivalent of LNG, or 2.57 million mt of LNG, for the week ended August 15, a 7.3% gain from the previous week, according to port and satellite data compiled by Bentek Energy, a unit of Platts.
The increase was mainly due to a surge in Chinese imports, at 16.08 Bcf of gas equivalent, or 330,252 mt of LNG, more than double imports of 6.07 Bcf of gas equivalent in the previous week, according to the data.
The increase was due to term cargoes, largely from Qatar, according to Platts cTrack shipping data. In the week ended August 15, two vessels with capacities totalling 476,000 cubic meters, or 10.24 Bcf of gas equivalent, arrived in China from Qatar, compared to no vessel arrivals from the Middle Eastern country in the previous week.
"There have been no spot cargoes imports [into China], so everything you see should be term cargoes," a North Asian market source said. "This weekly increase doesn't really reflect any abnormality in demand. Demand in China is normal for this time of year, with shipments continuing to be delivered as per the original scheduling plans," the source added.
The Aamira LNG carrier, a Q-Max vessel with a capacity of 266,000 cubic meters (5.72 Bcf of gas equivalent), arrived at China National Petroleum Corporation's Dalian LNG terminal on August 14 from Qatar, according to Platts cTrack shipping data.
The Al Ghariya LNG carrier, a Q-flex vessel with a capacity of 210,000 cu m arrived at China National Offshore Oil Corporation's Guangdong LNG terminal on August 10, carrying a cargo from Qatar.
The Min Lu, a 147,210 cu m vessel arrived at Fujian LNG terminal on August 10, delivering a cargo from Indonesia's Tangguh LNG, and Puteri Mutiara Satu, a 137,595 cu m vessel, arrived August 8 at the same terminal carrying a cargo from Malaysia's BintuluLNG.
The four LNG carriers have a total volume of 16.36 Bcf of gas equivalent, but delivered 16.08 Bcf to the terminals,according to Bentek. LNG cargoes discharge less than what is loaded due to boil-off, and the need to keep the storage tanks chilled on the return leg of the journey.
LNG imports into Japan and Taiwan, however, fell to 73.24 Bcf and 11.62 Bcf of gas equivalent, respectively, in the week ended August 15, down 2.6% and 6.1% from the previous week, according to the Bentek data.
South Korea imported 24.16 Bcf of gas equivalent during the period, up 5.3% from the previous week. |
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