Chinese natural gas imports edge higher in June but are still over 14 percent up in the first half of 2024
China's natural gas imports as LNG cargoes and pipeline increased by more than 14 percent in the first half of 2024 compared with the same period last year, though slowed right down during the month of June.
LNG and pipeline gas imported volumes totalled 64.65 million tonnes in the January-to-June period, which was a 14.3 percent year-over-year rise from the 56.63MT logged in the same period of 2023.
Total natural gas imports for the month of June increased by only 0.3 percent to 10.42MT tonnes compared 10.39MT in June 2023.
The natural gas market in the Northern Hemisphere summer season has been marked by lower prices and higher storage levels.
Main suppliers
China’s main LNG suppliers in 2024 have been Australia, Qatar, Malaysia, Indonesia and the Yamal plant in Arctic Russia and to a lesser extent the US.
US data shows that China has dropped to the ninth preferred destination for US LNG deliveries as the focus has turned to Europe.
China's natural gas imports by pipelines as well as LNG had increased for May and during the first five months of 2024 along with domestic natural gas production.
A total of 54.28MT of natural gas was imported in the first five months of 2024, up 17.4 percent versus the previous year.
Imports of LNG to the Chinese network of 25 regasification terminals had increased in 2023 and the nation regained the No. 1 spot as the largest LNG importer ahead of Japan.
Japan’s 2023 calendar year LNG imports dropped by 8.1 percent in 2023 to 66.15MT compared with China’s overall imports of 71.35MT.
Russian pipelines
China receives varying volumes of pipeline gas through links from the former Soviet Central Asian republics as well as from Russia as part of Gazprom's “Power of Siberia” project.
The “Power of Siberia” pipeline runs for 3,000km (1,865 miles) through Siberia and into northeast China and a “Power of Siberia II” pipeline is being planned to deliver gas to China via Mongolia.
Additional pipelines inside China carry the gas for a further 2,110km through eight Chinese provinces in the north to Shanghai in eastern China.
Danish Energy Agency explains winter tariff rises even amid fuel security confidence and role in EU network
Denmark, the pipeline natural gas and power market player involved in LNG trading and a bridge supplier of gas to Poland on the Baltic Pipe, has revealed plans for increased power prices and methods of making energy savings.
Asian LNG prices rise with cargo deliveries while values ease in Europe as gas storage hits 80 percent fill rate
Asian liquefied natural gas prices increased as cargo deliveries to China, Japan and South Korea neared 60 shipments per week while European Union wholesale gas prices stalled as storage levels reached more than 80 percent in nations like Germany, Italy and Spain.
European LNG prices plunge again on high storage and mild weather while more cargoes point at Asia
European Union liquefied natural gas and pipeline gas prices plunged by a double-digit margin again as storage inventories increased and mild weather weakened demand, while more cargoes from a low seasonal level of liftings began to point at Asian markets.
European LNG prices drop again on milder weather and gas storage levels grow on much lower demand
European Union liquefied natural gas prices dropped again as EU storage builds hit their highest level of the season so far as milder weather swept across the continent and gas demand declined along with pipeline gas flows from Norway, while LNG cargo deliveries toNorth Asia were steady.
European natural gas glut hits mid-winter prices as mild weather prevails and LNG cargoes are pointed at Asia
Europe has now entered an unusual period of having a temporary natural gas glut in the mid-winter season as several European Union nations this week built gas storage levels amid very mild weather and the Germans preferred coal and oil to gas for electricity generation, while the LNG arbitrage window opened to over $2 for the Japan-Korea Marker price for spot cargo deliveries to Japan, China and South Korea.
European and Asian LNG prices drop for second week amid steady cargo liftings and rising spot charter prices
The natural gas markets in Europe and Asia absorbed several negative geopolitical moves and influences and prices still dropped for a second week, while rising spot charter rates for LNG carriers and tighter supplies signalled a coming winter surge.
US forecasts Henry Hub natural gas spot price of $8.69 per MMBtu while LNG exports rise 22 percent
The US government has forecast average Henry Hub benchmark natural gas spot prices of $8.69 per million British thermal units in the third quarter as LNG exports rise 22 percent in 2002 with Europe being the main destination.
Asian LNG and oil deliveries start to recover for China while Europe’s cargo prices fall even as concerns persist
North Asian liquefied natural gas demand was dominated by Japan again as Chinese oil and LNG demand began to recover after lockdowns while European Union gas supply was helped by a decline in prices as summer weather arrived, though the improved picture was partially dulled by renewed Ukraine conflict concerns.
French natural gas grid operator gives annual overview including LNG cargoes as well as prices and storage
GRTgaz, the French natural gas transmission company, said LNG terminal subsidiary Elengy received 176 cargoes in 2021 at the three terminals in Western and Southern France as it gave an overview of last year’s gas transportation and storage activities.
