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LNG boosts China to become top global gas importer

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LNG Industry,

According to Reuters, China will become the world’s top importer of natural gas next year. Gas imports in the country have been boosted by LNG purchases as its economy grows and there is greater emphasis on moving on from coal-generated energy.

In its Gas 2018 annual report, the International Energy Agency (IEA) estimated that Chinese demand for natural gas will rise by almost 60% between 2017 and 2023 to 376 billion m3; including a rise in its LNG imports to 93 billion m3 by 2023 from 51 billion m3 in 2017.

Imports of LNG will reportdly rise to 505 billion m3 by 2023 from 391 billion m3 last year, a rise of 114 billion m3, including China’s 42 billion m3 growth.

Global LNG exports meanwhile will surge 30% by 2023 with the US becoming the second largest supplier in the world; buoyed by the shale revolution.

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