Peak Oil is You

Donate Bitcoins ;-) or Paypal :-)

Page added on July 24, 2017

Bookmark and Share

Chinese appetite for LNG increasing

Chinese appetite for LNG increasing thumbnail

The Chinese appetite for liquefied natural gas increased more than 30 percent from last year, according to the latest government data.

The Chinese General Administration of Customs reported LNG imports to China increased dramatically as the country looks to rely less on coal for its energy needs. First half demand was up 38.3 percent from last year.

“The growth rate is higher than the 21.2 percent increase registered in the same period last year, partly encouraged by the lowering policy barriers for LNG from the United States to enter the Chinese market,” the official Xinhua News Agency reported.

A free-trade agreement is needed to secure LNG imports from the United States, which China doesn’t have. In May, the U.S. Commerce Department introduced an action plan with China that included a clause on LNG trade. Under the agreement, the Commerce Department said that China can at any time negotiate for LNG imports.

The Commerce Department said the agreement gave China a chance to step away from coal in favor of the cleaner-burning natural gas.

In its annual report this year, Royal Dutch Shell said LNG demand is on pace to grow at twice the rate of conventional gas. China and India, among the fastest growing economies in the world, are leading the pack in terms of growth in LNG imports.

The International Monetary Fund estimated the Chinese economy will grow by 6.4 percent next year, a 0.2 percent upward revision from its previous forecast.

Beijing reported that China imported no natural gas from the United States last year. Overall natural gas demand is on the rise, though coal still accounts for close to 60 percent of total Chinese energy demand.

For conventional natural gas, the Chinese government said it aims to nearly double its consumption to around 10 percent by 2020 and to 15 percent by 2030. Midstream, or pipeline, infrastructure should increase by about 60 percent by 2020 to 64,600 miles. By 2025, all cities in China with a population of more than 500,000 will be connected to some form of natural gas pipeline network.


2 Comments on "Chinese appetite for LNG increasing"

  1. Cloggie on Mon, 24th Jul 2017 10:20 pm 

    Lagarde Hints At IMF Being Based In China In Future

  2. boat on Tue, 25th Jul 2017 4:52 pm 

    XI is just has more commen sense than Trump. Fact is, Trump is German. History has shown Germans make poor decisions based on emotion rather than science. Who is the largest ethnic group in the US? German. Which ethnic group supports Republicans by the highest percentage? Republicans. Trump should hire XI to mentor him on decision making skills.

Leave a Reply

Your email address will not be published. Required fields are marked *