Asia's liquefied natural gas imports post largest three-year decline, forcing Japan and India to revert to coal

Golden Ten Data, April 1—Due to supply disruptions and rising prices caused by Middle East conflicts, Asian liquefied natural gas imports saw their largest decline in over three years last month. Vessel tracking data shows that in March, LNG deliveries to the region dropped 8.6% year-on-year to about 20.6 million tons, marking the largest decrease since December 2022. With Middle East LNG supplies cut and a hurricane last month shutting down Australian facilities, the region has been scrambling for alternative energy sources. Countries including Bangladesh, India, and Japan have reverted to coal. Asian buyers have also secured some cargoes away from Europe, while Europe, after losing Russian pipeline gas supplies, needs more LNG to replenish its reserves. Vessel data indicates that Western Europe's LNG imports in March increased by about 3.5% year-on-year, compared with a 17% rise in February.