CLNG Imported Elevians continued to increase during 2024, following the trends of previous years, but the EU remained in front. In its latest weekly report, Shipbroker Banchero Costa said that “the global sea LNG trade increased sharply until 2022, also helped by events in Ukraine which forced Europe to diversify far from Russian pipe gas. However, the last two years have seen a significant slowdown in growth rates. In Jan-Des 2023, Global LNG shipments increased only +1.4% yoy to 408.7 mln T, based on data tracking of refinitiv/lseg ships. In January 2024 there was no growth at all, with a flat delivery volume +0.0% yoy at 408.8 mln t. The biggest exporter of LNG now is the US, which contributed 21.5%of shipping in 2024, followed by Australia with 20.0%, Qatar with 18.9%, Southeast Asia with 11%. In Jan-Des 2024, the US exported 88.1 mln tons of LNG, which represented a decline of -0.8% yoy from 88.7 mln T sent in 2023. Australia was sent 81.7 mln tons at Jan-Des 2024, rising +1.1% yoy. Qatar exports 77.2 mln tons in Jan -Jun 2024, down -2.1% yoy. From Southeast Asia’s shipping increased +7.2% yoy to 46.3 mln t. Russia sent 31.9 mln Tons of LNG in 2024, up +3.4% yoy from 30.9 mln T in 2023, but under 32.9 mln T was exported in 2022.
Source: Bancha Costa
According to Banchero Costa, the European Union remains the largest LNG importer in the world. In 2024, the EU imported 83.2 mln tons of LNG, down -18.3% yoy, contributed 20.4% of global LNG imports. Britain imported 7.6 mln tons of LNG in 2024, fell -48.8% yoy from 14.9 mln T in 2023, and nearly two -thirds fell from 19.4 mln imported in 2022. Mainland China imported 78, 7 mln Tons LNG in 2024, 2024, +10.2% yoy from 71.4 mln T in 2023. Japan imported 67.4 mln T in 2024, up +0.9% yoy. South Korea imported 47.8 mln T in 2024, up +5.3% yoy. India imported 25.5 mln T in 2024, up +21.0% yoy “.
“In 2021, mainland China appeared briefly as the largest LNG importer in the world, with a share of 20.7%. In 2021, Chinese imports jumped +17.8% yoy to 79.0 mln tons. This follows Japan, which in 2021 recorded an increase of +2.8% Yoy which was simpler to 76.5 mln tons. However, in 2022, there was a dramatic turnover, because the price of high gas and weak manufacturing due to the locking Covid-19 reduced fuel demand, while Western Europe rushed to replace the supply of pipe gas from Russia. In 2022, China’s LNG import decreased by -18.7% yoy to 64.3 mln t. Thus, it was once again followed by a more stable Japan, which recorded a simple decline of -3.8% yoy to 73.6 mln T, from 76.5 mln T in 2021. In 2022, both China and Japan got a jump by the European Union, whose lng, the lng, the LNG, the LNG, the LNG European, the European, the LNG, the European LNG, the European LNG, the European LNG, the imported imports +67.6% yoy in 2022 to 100.1 mln tons, from 59.7 mln T in 2021. In 2023, Chinese imports rebound strong by +11.1% yoy to 71.4 mln T as zero- Covid issued, “said the cooker.
Source: Bancha Costa
“In 2024, Chinese imports increased again +10.2% yoy to 78.7 mln T, but it was not enough to overtake the EU imports. In terms of LNG delivery sources to China, dominant players are always Australia. In Jan-Des 2024, China imported 27.0 mln tons of LNG from Australia, up +7.6% yoy from 25.1 mln tons in 2023, although this is still below 31.0 mln T imported from Australia in the year 2021. Australia remains the top supplier of China, with 34.4% in 2024. Delivery from Qatar to China increased +11.0% yoy in 2024 to 18.4 mln T, building a surge of +76.4% yo-y recorded in 2022 and an increase of +5.9% yoy in 2023. Qatar. Qatar. Qatar. Now contributed 23.4% of the total imports of China LNG in 2024. Import to China from ASEAN (Malaysia and Indonesia) increased +6.5% yoy in 2024 to 12.5 mln t. The volume from Russia to China increased last year by +15.0% yoy to 7.1 mln T from 6.1 mln T in 2023. Finally, shipping from the United States to China rebounded by +48.3% yoy to 4, 5 mln T in 2024 “, Banchero Costa concluded.
Nikos Roussanoglou, Hellenic Shipping News worldwide
