China takes over from Japan as leading importer of LNG
Shahamah_LNG_carrierb-HUGE
China is on the verge of taking over from Japan – in anticipation of year-end 2021 indicators – as the largest consumer of liquefied natural gas (LNG). From January to September, China imported 80.5 billion cu.m. of LNG, while Japan’s import figures stood at 78.1 billion cu.m (in regasified form), according to data from Refinitiv.

The photo is sourced from hellenicshippingnews.com  

By way of comparison: In 2020, China imported 91.8 bcm  of LNG, compared to Japan’s 102.6 bcm.

    The increase in imports Is linked to a great extent to a jump in energy demand as the Chinese economy recovers from the effects of the Covid pandemic.

     China’s GDP recorded growth of 2.3 % in 2020. This year HIS Market predicts growth will reach 8.4 %. And, as a consequence, over the first nine months of 2021, electricity consumption in China rose overall by 12.9 %, and in the more economically developed east, that figure reached 13.6, according to the Chinese Electricity Council.

     Coal retains the dominant role in the structure of China’s electricity generation – in 2020, according to data from the BP Statistical Review, it accounted for 63 % of all power generation, while natural gas accounted for only 3 % and all other sources made up 34 %. The leap in demand for energy could only lead to a jump in demand for coal.

     But an Australian embargo on coal shipments hindered China from meeting demand. In 2020, shipments of Australian coal to China totalled 79.3 million tonnes, while in the first nine months of 2021, that total was reduced to 3.4 million tonnes. And the greater part of that was made up of coking coal, used in steelmaking.

    As a result, China was obliged to increase gas imports. Part of the shipments were provided through the Power of Siberia gas transport system which, in the first six months of 2021, shipped more than all the previous year (4.6 bcm compared to 4.1 bcm, in accordance with Gazprom’s data under standard Russian accounting systems).

    The increase in LNG shipments, in percentage terms, was a little more modest. In the first nine months of 2020, China imported 64 bcm of LNG, compared to 80.5 bcm in the same period of 2021 — a 24.8 % increase. But that was enough to overtake Japan in terms of the import indicator.

Share:

Share on facebook
Facebook
Share on telegram
Telegram
Share on email
Email
Share on twitter
Twitter
Share on vk
VK
Share on odnoklassniki
OK
Share on reddit
Reddit

Add comments

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

China has commissioned the last out of six units of the country’s largest NPP

China General Nuclear Power Corporation has completed test operation of the last out of six units at the Hongyanghe nuclear power plant (NPP) whose capacity has reached a national record level of 6.71 GW. The design power generation volume of the plant, which is the first NPP in China’s northeast, has increased up to 48 TWh, which is more than last year’s total generation in New Zealand (44 TWh, according to BP’s World Energy Survey).

read more ...

Malaysia’s shelf could become a CO2 storage hub

As reports the Nikkei Asia, a regional publication, Malaysian Petronas and Japanese Mitsui & Co. have signed a memorandum on a feasibility study for the project for CO2 storage in the depleted oil and gas fields offshore Malaysia. The carbon dioxide will potentially be supplied from the Mitsui & Co. power plants in Japan and South Korea.

read more ...

Scientists have found hot spots in the Arctic

The scientists of the Arctic and Antarctic Research Institute (AARI), as part of an international team of specialists, have analysed the satellite and ground-based data for 40 years and identified the hottest spots in the Arctic. According to the fundamental research results, warming in the Arctic is 2.5-3 times faster than on the whole planet. However, an exceptional temperature rise is recorded in the Barents Sea area.

read more ...

Archives


October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031