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China’ Gas Imports Hit New Record in Nov

NATURAL GAS

China’s combined pipeline gas and LNG imports in November were up 23% on the month to a record 16.449 mcm, according to the nations’ customs service., cited by Interfax.

  • China’s imports of pipeline natural gas rose 15% on the month in November to 5.527 bcm. This compares to 5.396 bcm in October.
  • Imports came from Russia, Kazakhstan, Turkmenistan, Uzbekistan, and Myanmar.
  • Imports of LNG were 8.4 mcm in November, the highest since Dec. 2020 and up 27% on October. This is the second highest monthly total on record, just shy of the record 8.49 mcm.
  • China has been operating not only as a buyer, but also as a portfolio player, Interfax said. Thus, some of those imported volumes have likely been re-exported.
  • The average cost of LNG imports into China in November was $539/mcm, compared to the Platts spot JKM of $583/mcm.

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