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China Increase Russian LNG Imports by 66% in H1 2023

LNG

China increased imports of Russian LNG by 66% on the year to 3.9m tons in H1 2023 according to Energy Intelligence based on Chinese customs data.

  • The growth rate exceeded China’s overall LNG import growth of 7.2% and total gas import growth of 5.8%.
  • Supply of spot cargoes from Sakhalin-2 in Russia’s Far East was the main driver with exports to China increasing by 65% to 1.4m metric tons, according to Kpler data.
  • Russia’s average LNG export price in China was 525$/mcm in H1 2023, down from 700$/mcm in H1 2022 according to Energy Intelligence calculations.


Source: Energy Intelligence

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