China imported 6.30 million tonnes of LNG in August, up 7.81% month on month and soaring 34.11% year on year, data from the General Administration of Customs of China (GACC) showed.
2022-2023 China LNG Imports
Source: GACC
The rise was attributed to growing electricity consumption due to high temperatures in South China, although imported LNG prices increased by 2.87% MoM to Yuan 3,985/t on the backdrop of rising international spot prices, according to OilChem.
The combined imports stood at 45.52 million t in the first eight months, rising 12.123% from a year earlier, the customs data showed.
August 2023 China LNG Import Proportion by Country of Origin
Source: GACC
Regarding supplying countries, Australia remained the top LNG supplier to China, with a volume of around 2.16 million t in August, down 2.37% MoM.
LNG imports from Qatar, the second-biggest supplier, reached 1.26 million t, up slightly by 0.30% MoM. Russia, Malaysia and the US followed with the volumes of 1 million t, 0.58 million t and 0.54 million t, jumping by 72.45%, 11.03% and 53.36%, respectively, customs data showed.
Written by Sunny Fang, fss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com