From S&P Global Platts:
The dynamics of gas flows into China and question marks of the UK's green credentials are the focus of S&P Global Platts editors this week, as well as EU gas storage and US LNG supply.
1. Fall in China gas imports via Power of Siberia in May opens door for LNG
What's happening? Gas flows into China via the Power of Siberia pipeline in May were almost half what they were in June, at just 17 million cu m/d. The reduced flows in May likely propped up LNG demand, which rose 20 million cu m/d or 7% month on month. The next planned maintenance is scheduled for between September and November, and there was no announced maintenance in May, so why the volumes fell remains unclear. Furthermore, there is no economic incentive to turn down volumes amid currently elevated Asia spot LNG prices.
What's next? Power of Siberia volumes are expected to return to normal levels in June, and LNG imports have already started to slow recently, reaching 293 million cu m/d based on 30-day moving averages. The strong gas demand is expected to continue to be driven by robust industrial activity and top-line power demand....
....MUCH MORE
