LNG is a form of compressed and liquefied natural gas that eliminates potentially useless or harmful substances for downstream industry usage. While naturally gas normally exists in a gaseous state, the gas can be liquified when cooled to a temperature of -163 degrees Celsius for transportation. It returns to its natural state when used.
The Chinese LNG industry has been developing rapidly in recent years. There is a total of 21 LNG processing stations with a total production capacity of 8 million tons. Northwest China and Northern China are the main producers of LNG in China, with each producing a 36% and 35% of total LNG production respectively. Production volumes for LNG in 2018 were measured at 9 million tons, and as national policies continue to change, production is expected to grow even higher. A total of 62,8 million tons of LNG was consumed in 2018, a 43.8% increase over the previous year.
Imported LNG volumes were recorded at 53.8 million tons, a 41% increase over the previous year. LNG imports were priced at average prices of 567.8 USD/ton, a 33.5% increase over the previous year. Some of main sources of imported LNG include Katar, Malaysia, Australia, Indonesia and Papua New Guinea. Australia is the largest source of LNG imports in China with a total of 23.52 million tons of LNG imported from Australia alone.
Spanning over 229 pages “Report on the Chinese LNG industry 2019-2024” report covers Chinese LNG industry developments and projections, Chinese LNG industry logistics market and related markets, Chinese LNG industry downstream markets, Key Companies, LNG Industry development projections 2019-2029, Chinese LNG industry investment strategies analysis 2019-2029.
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