SOUTH KOREA PRESIDENT LEE: SOUTH KOREA, JAPAN AGREE TO STRENGTHEN LNG AND CRUDE COOPERATION, INCLUDING INFORMATION-SHARING ON STOCKPILING

EU COMMISSION SPOKESPERSON: OBJECTIVE IS TO HAVE A CONCRETE IMPLEMENTING ACT WHICH WILL SPECIFY QUOTAS BY JULY 1

Europe’s LNG imports are heading for a second monthly decline as the Iran war disrupts shipments and tighter supplies lift competition from Asia. Ship-tracking data showed imports fell in the first half of May and could decline more than 1% year-on-year after a 7% drop in April, according to Kpler estimates. Energy Aspects said European gas demand may rise this month due to colder weather and higher power-sector usage, while Kpler analyst Ronald Pinto said vessel diversions toward Asia have increased amid resilient South Asian demand.