Asia LNG Imports Soar as Europe's Supplies Plummet Amid Iran Conflict

Asia's imports of liquefied natural gas (LNG) are on track to reach a six-month high in July, while Europe's imports plunge to their lowest in nearly two years.

The increase in Asia is due in part to seasonal demand during the summer peak, but also because major importers such as China are increasing their purchases.

China, the world's largest LNG buyer, has lifted its imports in recent months, with an estimated 5.62 million tons for July, the most since January and 55% above April's weak month of 3.62 million tons.

The recovery in Asia is being driven by China, but other countries such as Japan and South Korea are also increasing their imports from the US, which has become a major supplier to the region.