• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 15 minutes WTI @ 67.50, charts show $62.50 next
  • 18 hours The EU Loses The Principles On Which It Was Built
  • 10 hours Starvation, horror in Venezuela
  • 44 mins Mike Shellman's musings on "Cartoon of the Week"
  • 14 hours Why hydrogen economics does not work
  • 11 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 10 hours Tesla Faces 3 Lawsuits Over “Funding Secured” Tweet
  • 23 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 2 days Chinese EV Startup Nio Files for $1.8 billion IPO
  • 3 hours Saudi Fund Wants to Take Tesla Private?
  • 1 day Crude Price going to $62.50
  • 6 hours California Solar Mandate Based on False Facts
  • 6 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 23 hours Saudi Arabia Cuts Diplomatic Ties with Canada
Alt Text

The U.S. Remains The Natural Gas King

The U.S. remained the global…

Alt Text

Ghana Boosts Natural Gas Production

Momentum in Ghana’s hydrocarbons industry…

Alt Text

Is This The Next Natural Gas Giant?

Nigeria has long been renowned…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

China Gas Imports Hit All-Time High

China Natural Gas

Natural gas imports into China reached an all-time high in December as the country fought a cold spell amid efforts to reduce its dependence on coal and replace it with gas. At 7.89 million tons—including pipeline flows and LNG shipments—the December figure beat the previous record, booked in November, by 20 percent.

This record-high import rate makes for a fitting end to a year that saw natural gas imports into the country soar by 27 percent annually to 68.57 million tons.

It seems Beijing’s drive to reduce coal consumption and increase gas consumption was a bit hurried: winter hit northern China hard and led to gas shortages in certain regions, sending domestic LNG prices to a three-year high despite the global glut. That’s because there are infrastructure challenges to LNG and natural gas supply to China, CNBC noted in a story from early December.

The problem is the lack of enough pipelines to carry the fuel everywhere it is needed now that coal is being phased out. What’s more, those pipelines that are being built, are being built too slowly to be able to respond to the increased demand for gas during peak heating season.

Meanwhile, as gas had to be diverted to households, the Chinese chemical, trucking, and manufacturing industries suffered shortages, the FT reported in early December. A number of chemicals producers in southern and western China were ordered to curb or entirely shut down production until March. Related: Cold Snap Leads To Biggest U.S. Natural Gas Draw Ever

Domestic output of natural gas has been growing, too, Reuters reported in December, rising by 9.7 percent on an annual basis from January to October. While pipeline imports all rose, the biggest increase was in LNG imports, which were 50 percent higher in the ten-year period from a year earlier.

As the new year started, however, LNG prices in northern China have fallen sharply from their peak in late December. This week, according to Reuters, wholesale LNG prices in the North averaged a bit over US$848 per ton, down 45 percent from late December.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News