China's Jul LNG consumption declined 2.53% YoY due to week demand

China's LNG supply rose 3.19% MoM to 8.27 mln tonnes in July, with domestic output up 5.88% to 2.48 mln tonnes, while consumption fell 2.53% to 3.07 mln tonnes. PNG substitution and typhoons curbed demand. In August, new plants and maintenance restarts will boost supply, while power demand stays weak, keeping the oversupply intact.

China's LNG supply rose 3.19% month-on-month to 8,274,000 tonnes in July, with domestic output up 5.88% to 2,479,700 tonnes, while consumption fell 2.53% to 3,067,900 tonnes, sustaining the pattern of rising supply and weakening demand. Pipeline natural gas (PNG) substitution and typhoon-related disruptions weighed on consumption. China LNG Supply, Jun-Jul