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Global LNG need seen rising in 2024 from China, Europe

Worldwide melted natural gas (LNG) demand will grow in 2024 with leading purchaser China back in the market and usage in Europe increasing, a. TotalEnergies executive stated on Wednesday.

LNG has continued to grow, with China being back in the. market however not yet at the level of 2021, Senior Vice President. Asia Pacific Exploration & & Production Thomas Maurisse stated at an. market conference.

With Europe ... it's a new and big market, this need will. still continue to grow. At the very same time, brand-new abilities will. not be on stream in this extremely short term, so will continue to. put little pressure on rates and volatility.

Last week, Asia area LNG costs struck their lowest levels in. almost 3 years as weak need in Asia and Europe weighed on. the market.

The fall in prices had incentivised LNG importers from. markets such as China and India to increase spot purchases.

Trading activities have actually gotten amidst soft costs,. Petronas' Vice President, LNG Marketing and Trading Shamsairi M. Ibrahim said on the sidelines of the conference.

It has actually already started in China, he stated, including that. there will be more purchasing opportunities for price-sensitive. buyers in Asia.

However

(source: Reuters)