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China Surpassed Japan In 2018 And Became The World's Largest Natural Gas Importer
Jan 06, 2018

China surpassed Japan in 2018 and became the world's largest natural gas importer

The government's move to tackle pollution will surely make China surpass Japan this year and become the world's largest natural gas importer. Natural gas is used to replace highly polluting coal.

Thomson Reuters Eikon data show that China's pipeline imports of natural gas and liquefied natural gas (LNG) may exceed 67 million tons in 2017, up more than a quarter from the previous year. Only LNG imports have increased by more than 50%. The data include the number of LNG tankers arriving in China and the monthly import estimates for gas pipelines.

Official and shipping figures show that China still lags Japan by now, with about 83.5 million tons of natural gas being imported each year, all of which is LNG, although China's overall natural gas imports surpassed those of Japan twice in September and November. Many analysts said that according to this trend, China should surpass Japan in 2018. "LNG and pipe imports will continue to increase in the coming years and we expect China to replace Japan as the world's largest natural gas importer in 2018," said the energy advisory body.

Last year China started to implement the "Coal to Gas" program, which has helped to pollute millions of households and many industrial facilities from the original use of natural gas instead of coal. The move led to soaring LNG import demand. As a result, spot LNG prices in Asia have more than doubled to $ 11.2 per million British thermal units (mmBtu) since June, the highest since November 2014, making LNG the most powerful bulk in 2017 One of the goods. The soaring demand has already made China surpass South Korea in 2017 and become the second largest LNG importer in the world.