Chinese LNG imports up 30% in October

Chinese LNG imports in October came in at 5.17mn tonnes, up 29.5% year/year, according to data published by the customs department on November 18.

The LNG imports during the 10 months of 2023 were 56.25mn tonnes, up 11.5% year/year. In terms of pipeline gas imports, China received 3.62mn tonnes last month, indicating a 1.2% yr/yr growth. Cumulatively, the country's pipeline gas imports during the year reached 40.26mn tonnes, up 5.3% year/year.

Chinese LNG imports for the full year 2023 are likely to see a small increase, according to Reuters market analyst John Kemp. The import rebound could be smaller than some analysts anticipate because domestic gas production is rising strongly and the country has mostly completed its transition to natural gas for urban residents, Kemp wrote.