Global LNG demand jumps most since pandemic dashed trade

Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020

1 min read . Updated: 05 Apr 2021, 08:15 AM IST Bloomberg

While European imports rebounded as dwindling stockpiles and strong spot prices attracted cargoes from US export projects, Asian importers anchored the growth

Liquefied natural gas deliveries expanded the most in a year as Asia and Europe refilled inventories drained over the winter, and as pandemic-ravaged economies slowly begin to reopen.

Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020, ship-tracking data compiled by Bloomberg showed. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns.

Bank unions threaten to intensify protests against privatization bid

1 min read . 07:01 AM IST

The Tata group may submit a financial bid for the state-run airline as early as this month.

Premium

Tata, govt iron out differences over Air India

3 min read . 07:54 AM IST

A health worker vaccinating a man against Covid-19, at Government Primary Health Center Bani Park, in Jaipur, Rajasthan.

Premium

New Covid-19 restrictions in Rajasthan from today. Details here

1 min read . 06:38 AM IST

Also Read | Inside the march of virus variants

While European imports rebounded as dwindling stockpiles and strong spot prices attracted cargoes from US export projects, Asian importers anchored the growth. Chinese shipments surged more than 30% in March amid an effort by the nation’s new pipeline operator to open terminals to gas distributors. Supplies to Bangladesh and Pakistan also rose on the back of spot buying.

LNG imports into western Europe in March reached the highest levels since record volumes delivered in December 2019. Supplies from the U.S. made up nearly 30% of shipments. Global exports of the fuel in March rose 4.2% from year-ago levels.

Output from the US surged to a record high as projects ramped up production, while exports from Algeria, Oman and Egypt also expanded.

This story has been published from a wire agency feed without modifications to the text.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.