Commodity Market Report
China LNG long-term outlook 2020
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China's LNG imports grew by 12% year-on-year to 60.3 Mt in 2019. While it was a deceleration from 2018, it firmed the country's position as the second-largest LNG importer after Japan. The coronavirus outbreak and China's strict containment measures have dampened economic growth and energy demand. LNG demand's annual growth is expected to slow to 3% in 2020. Near-term demand will be affected by the lingering effects but we expect piped imports to be more affected than LNG. Despite short-term turbulence, we don't see the government making a U-turn in its determination to clean up China's energy mix. In the long term, gas demand will benefit from tougher environmental standards, less supply constraints and increased user affordability. We expect China's LNG demand to reach 81 Mt by 2025 and 124 Mt by 2040.
Table of contents
- Historical LNG imports
- Imports by company
- LNG trucking
- Spot versus contracted
- Seasonal profile
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LNG demand forecast
- Short term (2020)
- Medium term (2021-2023)
- Long term (post-2023)
- CNOOC and its joint ventures
- PetroChina
- Sinopec
- Non-NOC entrants in infrastructure
- China Oil & Gas Piping Network Corporation
- Regasification tariffs
- 4 more item(s)...
Tables and charts
This report includes the following images and tables:
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LNG imports by terminalLNG SeasonalityContracted versus uncontracted LNG import outlook (H1 2020 preliminary)
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LNG contracts signed since 2016Contract pricing trendContract by indexation typeContracted LNG supply versus regasification capacityContracted LNG supply position by buyerLNG infrastructure2025 LNG receiving capacity outlook by company
- 1 more item(s)...
What's included
This report contains:
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