The LNG wave is on the way

Liquefaction ramp-ups and a slowing rate of Chinese demand growth finally deliver the oft-anticipated supply glut

Europe's LNG terminals are set to be over 60pc busier in January 2019 compared to the same month last year. Australian, Russian and US supply has stepped up, and Asia is working through a backlog of fourth-quarter oversupply after mild weather. But is this just a temporary blip or finally the arrival of the widely predicted but much delayed "wave" that would send the global LNG markets into oversupply? Analysts are in a broad agreement that it is the latter. According to Paris-headquartered Kpler, one of the market-leading LNG cargo analysts, Europe will receive 5.8mn t of LNG in January, based on observed arrivals and anticipated ship movements until the end of the month, up by 2.2mn t from