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Chinese LNG Demand Recovering but Outlook Uncertain

LNG

After an unprecedented slump in 2022, China's LNG imports are showing their first signs of recovery according to the IEA.

  • Preliminary shipping data suggests that China's LNG imports grew by close to 10% in March, compared to last year, although remaining below its 2021 levels according to ICIS.
  • Domestic demand rose by 4% in Feb and first datapoints suggests that growth continued into March -largely supported by improving economic activity.
  • LNG imports are set to increase in the coming months compared to the same period of last year, when China faced a series of strict covid lockdowns.
  • The recovery is still highly uncertain. The IEA’s base case forecasts that China’s LNG imports will remain below their record 2021 levels.


source: ICIS

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