LNG

China’s month-on-month LNG offtake grew by 0.72mmt in May, increasing robustly by 11 percent to 7.13mmt. Monthly Chinese offtakes also increased by 0.86mmt (16 percent) month-on-month in April, meaning that the country remained on a demand growth trajectory. With imports amounting to 7.13mmt in May, Chinese capacity had also reached full utilisation if nominal capacity is spread evenly across the year. Some terminals led by CNOOC’s Jieyang LNG stood out by having extremely high throughput in May.

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