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China Largest LNG Importer in 2023 with Japan Second

LNG

China regained the position as the largest global LNG importer of LNG as imports rose 13% y/y to 72m tonnes in 2023 according to ICIS.

  • Imports to Japan decreased 8% to 66m tonnes to fall back to the second largest importer.
  • The change was driven by an increase in China's economic activity after the covid pandemic and the return of more nuclear power plants in Japan.
  • LNG imports to the Atlantic-facing parts of Europe (the UK, France and Spain) fell in 2023 but remained high in comparison to longer-term historical levels.
  • New regas terminals drove a strong increase in LNG imports to central western Europe (the Netherlands and Germany).


Source: ICIS LNG Edge ship-tracking preliminary data

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