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Chinese October LNG Imports Hit 4-Year low

LNG

Chinese LNG imports fell to the lowest level for any month in over four years, amid weak demand, according to General Administration of Customs data.

  • LNG purchases stood at 4mn t in October, a 34% year-on-year decline, and the lowest level since June 2018. Total volumes in the first ten months of 2022 were 22% lower on the year,
  • Delivery of pipeline gas stood at 3.6mn t in October, 11.5% higher year on year. Total pipeline gas volumes rose by 11% year on year in the first ten months of this year.
  • China’s NDRC said this week it had secured enough winter gas supply but expected lower temperatures to pressure supply in some regions.
  • Chinese Covid-19 curbs and high import costs weighed on China's demand this year.
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