18.11.2024, 14:48
China increased LNG imports by 27 in September%
Source: OREANDA-NEWS
OREANDA-NEWS China, the largest buyer of liquefied natural gas on the planet, is currently also the fastest growing participant in it. In September, China increased imports by more than 27%, or 1.38 million tons, for the transportation of which a flotilla of 20 standard large-tonnage gas tankers is needed. The trend of demand concentration in the Asia-Pacific region in September was supported by India (+8%), South Korea (+13%), (Taiwan +17%). At the same time, Europe reduced LNG purchases by 15%, or 1 million tons.
In September 2024, China imported 6.55 million tons of liquefied natural gas, which is 27% more than a year earlier (5.169 million tons), according to the General Customs Administration of the People's Republic of China. This is a new maximum of LNG intake for the corresponding month. In absolute terms, LNG imports traditionally peak in the months of the fourth quarter.
The increase in LNG imports has supported spot prices in the region in this part of the world. The JKM Platts Regional index (Japan Korea Marker, reflects the spot market value of goods shipped to Japan, South Korea, China and Taiwan) in September 2024 amounted to $474 per thousand cubic meters after $489 in August.
Russia is a major supplier of LNG to the Chinese market. Large-capacity LNG in the Russian Federation is produced by Sakhalin Energy plants (co-owned by Gazprom, Mitsui and Mitsubishi), Yamal LNG (participants - NOVATEK, TotalEnergies, Chinese CNPC and SRF), Gazprom LNG Portovaya and Cryogaz-Vysotsk.
The Chinese customs will publish a more detailed foreign trade summary with a division into exporters on Wednesday.
In September 2024, China imported 5.189 billion cubic meters of gas through gas pipelines, which is 10% more than a year earlier. In daily terms, compared to August 2024, deliveries decreased by 20%, which is explained by the autumn preventive campaign traditionally conducted this month on the main highways on the eve of the winter season.
China receives pipeline gas from five countries: Russia, Kazakhstan, Turkmenistan, Uzbekistan and Myanmar.
Pipeline gas supplies were expected to grow in annual comparison, primarily due to the planned increase in Gazprom's exports through the Power of Siberia. Objective conditions should have been favorable for other exporters as well.
Total imports of natural gas (via pipe and LNG) in September 2024 reached 13.71 billion cubic meters, which is 20% more than a year earlier. It is also a new maximum for them for the corresponding month.
In September 2024, China imported 6.55 million tons of liquefied natural gas, which is 27% more than a year earlier (5.169 million tons), according to the General Customs Administration of the People's Republic of China. This is a new maximum of LNG intake for the corresponding month. In absolute terms, LNG imports traditionally peak in the months of the fourth quarter.
The increase in LNG imports has supported spot prices in the region in this part of the world. The JKM Platts Regional index (Japan Korea Marker, reflects the spot market value of goods shipped to Japan, South Korea, China and Taiwan) in September 2024 amounted to $474 per thousand cubic meters after $489 in August.
Russia is a major supplier of LNG to the Chinese market. Large-capacity LNG in the Russian Federation is produced by Sakhalin Energy plants (co-owned by Gazprom, Mitsui and Mitsubishi), Yamal LNG (participants - NOVATEK, TotalEnergies, Chinese CNPC and SRF), Gazprom LNG Portovaya and Cryogaz-Vysotsk.
The Chinese customs will publish a more detailed foreign trade summary with a division into exporters on Wednesday.
In September 2024, China imported 5.189 billion cubic meters of gas through gas pipelines, which is 10% more than a year earlier. In daily terms, compared to August 2024, deliveries decreased by 20%, which is explained by the autumn preventive campaign traditionally conducted this month on the main highways on the eve of the winter season.
China receives pipeline gas from five countries: Russia, Kazakhstan, Turkmenistan, Uzbekistan and Myanmar.
Pipeline gas supplies were expected to grow in annual comparison, primarily due to the planned increase in Gazprom's exports through the Power of Siberia. Objective conditions should have been favorable for other exporters as well.
Total imports of natural gas (via pipe and LNG) in September 2024 reached 13.71 billion cubic meters, which is 20% more than a year earlier. It is also a new maximum for them for the corresponding month.
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