LNG: China's LNG Imports Were 26% Lower y/y In April
May-01 09:31
China’s LNG imports were 26% lower y/y in April, while Jan-April imports were down 23% y/y, according to ICIS analyst Alex Froley.
- The share of China’s own production and pipeline imports from Russia through the Power of Siberia pipeline has grown, while total gas demand is also slowing, Froley says.
- Chinese companies have long-term contracts for LNG cargoes from the US and elsewhere, but can resell many of these to alternative destinations and have been doing so even before the introduction of tariffs, according to Froley.
- China’s importers have diverted most of their contracted LNG from the US to Europe due to tariffs. which has helped to boost European supplies as the region looks to restock gas storage.
Source: ICIS
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