Insight
China gas and power month in brief: Chinese buyers to shape global LNG trends
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Report summary
In August, LNG imports were up by 52% year-on-year, bringing year-to-date imports to 33 Mt, up 48% year-on-year. This is despite higher imported prices, as LNG is needed to fill the gap between ever-rising gas demand and underperforming pipeline supplies. The 10% tariff on US LNG is unlikely to alter this growing trend. We now expect 2018 incremental imports to reach another record high. On the back of a firmer outlook for domestic demand, NOCs have resumed contracting activities.
Table of contents
- Executive summary
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Markets
- LNG imports continue to soar despite high prices
- Strong industrial output supports power demand growth
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Policy
- China imposes 10% tariff on US LNG
- Provincial governments follow up on city-gate gas price adjustments
- China is a step closer to finalising its renewable portfolio standard
- Shandong gets tougher on coal-fired captive power plants
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Corporate activity
- Zhenhua Oil wins third-party access to CNOOC's terminal
- Petronas auctions LNG cargo via Chongqing exchange
- PetroChina sanctions LNG Canada
- PetroChina signs 22-year LNG deal with Qatargas
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Smog Watch
- Beijingers enjoy a pleasant start to autumn
Tables and charts
This report includes the following images and tables:
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China gas demand, bcmMonthly LNG imports, MtMonthly power demand, TWhBeijing AQI
What's included
This report contains:
