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Project Insights

China’s piped imports to surpass LNG shipments in long run

CNOOC has forecast China’s demand for LNG imports will drop as new pipelines come onstream CNOOC has forecast China’s demand for LNG imports will drop as new pipelines come onstream.
By Colin Shek and Tang Tian 3 April 2019 Asia Pacific / Supply & Demand 0 34099
Construction work on the Power of Siberia gas pipeline. (Gazprom)

China National Offshore Oil Corp. (CNOOC), the biggest LNG buyer in China, has warned that the country’s imports of the fuel will grow much slower than its piped imports over the next 12 years. The prediction chimes with views from other companies and will serve as a reminder that LNG will face intensifying gas-on-gas competition in the Chinese market.

China is expected to import 57.0 billion cubic metres of pipeline gas this year and 63.0 bcm next year, CNOOC Vice President Li Hui said in a...