China's Yangshan LNG terminal
China well-stocked with gas for winter
Sufficient term-contract volumes and soft demand are insulating the country from the expensive spot LNG market
Soft gas demand in China means long-term contractual volumes will likely be enough to meet domestic requirements this winter, although cold snaps could still potentially push state-owned importers to dip into the expensive spot market to cover their needs. China’s apparent gas consumption in H1 declined by 0.5pc year-on-year, to 181.9bn m³, the first decline for a six-month period since 2004 and a reversal from growth of 17.4pc in the same period a year ago. Gas imports fell by 8.9pc, to 74.1bn m³, in H1, thanks to a 19pc drop in LNG imports, to 42.8bn m³. Pipeline flows, on the other hand, grew by 10pc, to 31.2bn m³, lifted by greater volumes of cheaper Russian gas. Weak demand in H1 means
Also in this section
2 April 2025
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
2 April 2025
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
