China has received Northeast Asia’s first LNG cargo from the United States, supporting the country’s growing volumes, however, total imports into Northeast Asia will fall in 2016.
China’s LNG imports are expected to reach record levels in 2016 after falling year on year in 2015. China is forecast to import around 23 mt of LNG this year, a 15% rise from last year. This growth is expected to be achieved despite LNG imports declining by 17% year on year in July, to 1.6 mt. One of the reasons for the fall was the high level of imports in July 2015, when volumes reached 1.9 mt. New LNG regasification capacity has opened this year, which will help bring the country’s total LNG import capacity to around 46 mtpa. LNG has also been making inroads because of competitive pricing, which is supporting offtake in key regions, such as Guangdong.
Log in or register for a free trial to continue reading this article
Already a subscriber?
If you already have a subscription, sign in to continue reading this article.Sign in
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up