China Prefers LNG to Piped Gas Imports

摘要

China's LNG imports in 2017 surpassed piped gas imports for the first time since 2012 and the trend is expected to become more pronounced. LNG imports last year totaled 35.93 million tons, or around 49.9 billion cubic meters (4.8 billion cubic feet per day), versus pipeline imports of 42.7 Bcm. LNG accounted for 54% of total imports, according to a survey by China's largest gas supplier, China National Petroleum Corp. (CNPC). The country's biggest LNG importer, China National Offshore Oil Corp. (CNOOC), expects LNG to account for 60% of gas imports from 2020 onwards. CNPC projects that imports will meet 40.3% of domestic gas demand in 2018, up from 39.4% last year.