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China LNG Imports Surge on Lower Prices in Q1

LNG
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LNG imports to China are surging with buyers incentivized by lower prices this year according to BNEF.

  • Imports rose around 32% y/y in April according to Chinese customs data and are forecast to hit a record 80.7m tons this year, up from 71.3m tons in 2023, after a flurry of purchases in February and March.
  • Future LNG demand in China could be muted by a 37% rise since a low in late February but prices are still below levels late last year.
  • Piped gas imports to China also rose 17.6% y/y in the first four months according to customs data with supply from Russia, Kazakhstan and other Central Asian nations.

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LNG imports to China are surging with buyers incentivized by lower prices this year according to BNEF.

  • Imports rose around 32% y/y in April according to Chinese customs data and are forecast to hit a record 80.7m tons this year, up from 71.3m tons in 2023, after a flurry of purchases in February and March.
  • Future LNG demand in China could be muted by a 37% rise since a low in late February but prices are still below levels late last year.
  • Piped gas imports to China also rose 17.6% y/y in the first four months according to customs data with supply from Russia, Kazakhstan and other Central Asian nations.

Keep reading...Show less