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.
Chinese natural gas imports by pipelines and as LNG increase in March though still lower for first quarter
Chinese natural gas imports by pipeline and as liquefied natural gas increased by more than 11 percent in March, though were still lower for the first quarter compared with 2022.
