China became NO.1 natural gas importer surpassing Japan! | Sowoll

Release time: Wednesday, June 27, 2018
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On the 25th, Beijing time, under the promotion of the government’s Blue Sky Action, China surpassed Japan to become the world’s first natural gas importing country. For a country that has not imported any natural gas15 years ago, it is a very important milestone.

That also highly shows that how quickly China has acted in replacing natural gas with coal to achieve pollution reduction targets. Especially for the northern regions in China, it has already implemented plans of natural gas usage for millions of families and factories.
 


According to the data released by the General Administration of Customs, in May, China imported 7.41 million tons of natural gas through gas pipelines and maritime transport. Based on this statistics, China’s natural gas import volume reached 34.9 million tons in the first five months of this year. However, according to data from Japan’s Ministry of Finance, Japan’s natural gas import volume was 34.5 million tons in the same period. Although China also had a few months of single-month import volume over Japan last year, this is the first time for Chinese year's cumulative imports exceeded Japan's. What amazing news!

The rapid growth in demand for natural gas in China is benefit for the LNG market. JP Morgan Chase analyst once stated that due to the fast growth of domestic production and pipeline transportation, it is difficult to keep up with the growing demand of China. We even expect that China will become the largest natural gas importer around the world.
 
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