May 22, 2024
Northern Asian LNG imports top 200 Mt — Report
– By Alison Godswill

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Notwithstanding COVID-19, LNG imports by North Asian countries (including Taiwan) increased by 2.5% to a total of 200.3 Mt LNG in 2020, 4.8 Mt higher than in 2019 when 195.5 Mt was imported, according to the latest EnergyQuest report obtained by The Daily, www.thedaily-ng.com.

The report, stated: “Import prices took a hit with the falling oil price. Average Asian import prices dropped 24.1% to US$7.27/MMBtu in 2020 from US$9.57/MMBtu in 2019. Australia’s average price fell 25.8% to US$6.87/MMBtu, down from US$9.26/MMBtu in 2019.”

However, the report also has this to say about China, “China the world’s biggest gas importer China is far and away from the world’s largest gas importer, well ahead of number two, Germany and number three, Japan. China saw the greatest increase in Asian LNG volumes during 2020, importing 67.4 Mt of LNG, up 11.1% on the 60.7 Mt imported in 2019. China’s pipeline gas imports fell 4.9% in 2020 to 34.5 Mt from 36.3 Mt in 2019. Total Chinese gas imports were 101.9 Mt compared to 97.0 Mt in 2019, an increase of 9.5% year on year.

“However, natural gas still only constituted 8.8% of China’s primary energy consumption, well below the global average of 24%. Chinese gas demand is expected to continue to grow strongly, particularly replacing coal as the country moves towards its 2060 goal of net zero carbon emissions. The growth in gas demand in China reflected the strong rebound in industrial activity following the first wave of COVID-19, together with the exceptionally cold winter. Beijing recorded its coldest

December day in 42 years. Pipeline imports from Russia began in December 2019 and increased to 20% of total pipeline imports in December 2020. Russia had an average of 8.5% of the pipeline market share in 2020.”

It added: “Turkmenistan remains by far the largest exporter of pipeline gas to China, exporting 20.7 Mt, 60% of the total market in 2020, compared to 24.1 Mt, 66% of the total market in 2019.”

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