Asia LNG demand rebound may spike Europe gas prices as Goldman warns supply tightness risk

Asia imports already run 4 mtpa above forecast

Goldman Sachs warns that early signs of recovery in Asian LNG demand could tighten global supply and shift upside risks to European gas prices. In preliminary May data, Asia LNG imports are running about 4 million tonnes per annum above Goldman’s 225 mtpa forecast, driven by China and South Korea as summer consumption and inventory rebuilding accelerate. The bank notes China imports have surged to a four-week average of 48 mtpa, and the JKM premium has risen, signaling firmer Asian appetite.