July 2021 LNG Market Outlook Demand was high for the first six months of 2021, up 10 MMt from the same period last year. Nearly all this growth occurred in Asia with total demand in the region up roughly 16 MMt compared to last year. The increase in Asian demand was higher than the global increase in supply as Asia bought tons away from Europe. Europe had been absorbing the world’s excess supply since late-2019; however, with the unexpectedly cold winter in Asia and the healthy appetite for LNG since then, the buying power of Europe has cooled. To read the full article, click here.