The import of Liquefied Natural Gas (LNG) to China has grown by an outstanding 25 % annually over the last couple years. Energy exports have developed three forecasts for the growth of China LNG ranging from 52 to 110 bcm for the year 2018. All lead to the conclusion that China will continually contribute magnificently to tight supply/demand balances in the global LNG market over the years to come.
China is fast becoming a big player in the LNG market, ranking above major traditional LNG importers such as Taiwan and Spain and reaching 24.7 billion cubic meters (bcm) in natural gas terms in 2013.
If this growth continues, China will be a the bigger importer by 2020, with volumes close to the current import of Japan, by far the world’s largest LNG consumer with an LNG import of 118 bcm in 2013.