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New Terminals to Lift China’s LNG Supply in 2024: OilChem

LNG

South China has been ramping up the construction and expansion of LNG terminals, with 18.8m mtpa of new regasification capacity to come online in 2024, according to OilChem.

  • Of the 28 terminals operating in China, 12 are in the south, comprising 35.74m mtpa of China’s total of 129.54m mtpa.
  • Upon completion of new projects in 2024, quarterly imports are expected to exceed 10m mtpa by 2025.
  • The rising supply is expected to be met with increasing demand, especially from Guangdong.
  • The development of new natural gas fired power plants and move to natural gas use in the domestic sector likely drove demand in Guangdong to 8.51 Bcm in Q1, up 9.8% on the year.

Source: OilChem

Source: OilChem

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