Global Oil & Gas: China’s LNG imports surge in May
China’s imports of liquefied natural gas (LNG) rose 104 percent in May as compared to the same month in the year before, according to the data by the General Administration of Customs.
The world’s largest energy consumer imported 2.91 million mt of the chilled fuel last month as compared to 1.43 million mt in May 2016.
According to the customs data, the average landed cost of LNG was $7.28 per million British thermal units (mmBtu).
Imports of piped natural gas also increased 23 percent on year to 2.5 million mt.
In the first five months of 2017, LNG imports rose 38.4 percent year-on-year to 12.86 million mt while pipeline imports have dropped 4.4 percent to 12.65 million mt, the data shows.
Most of China’s LNG imports in the January-May period came from Australia or 5.39 million mt, followed by Qatar that supplied 2.84 million mt.
China is currently the world’s third largest importer of LNG. The country is expected to require large volumes of the chilled fuel over the next decade as it is seeking to cut its addiction to coal to reduce pollution.(source: LNG World News Staff)
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