Firm costs & tighter supply to support China LNG prices in Sep

China's LNG supply fell 8.03% MoM to 7.61 million tonnes in August, with imports down 10.67% to 5.18 million tonnes, while consumption rebounded 5.75% to 3.24 million tonnes. Cost support, supply tightness and seasonal demand recovery are expected to support China LNG prices in September.

Contracted supply and rebounded consumption widened the LNG supply-demand gap in August. In September, feedstock costs translate to Yuan 5,820-6,075/tonne, pipeline maintenance will tighten supply, and peak-season demand is set to recover, pointing to upside for LNG prices, though gains are likely to moderate later in September. China LNG Supply,