China LNG news

As the global energy crisis deepens and countries scramble to secure reliable energy sources, investments in new LNG infrastructure are set to surge, reaching US$42 billion annually in 2024.

Under the SPA, PetroChina’s subsidiary, PCI, has agreed to purchase up to approximately 1.8 million tpy of LNG from Cheniere Marketing on an FOB basis.

An average of 49.0 billion ft3/d of LNG was traded globally during 2021, an increase of 2.2 billion ft3/d from 2020, according to The LNG Industry GIIGNL Annual Report 2022.

The order, which was received in 2Q22, was for the tank design of three new LNG carriers.

Asia is set to continue to dominate the global LNG regasification capacity additions, contributing approximately 75% of the total LNG liquefaction capacity additions between 2022 and 2026.

GlobalData predicts that China will lead the global LNG regasification capacity additions between 2022 and 2026, contributing 26% of the total LNG liquefaction capacity additions.

Under the SPA, Energy Transfer LNG will supply 0.7 million tpy of LNG to China Gas on a FOB basis.

Asia is expected to contribute approximately 27% of the total global small scale LNG liquefaction capacity additions by 2026 according to GlobalData.

GTT has received an order from the Chinese shipyard for the tank design of the first four LNG carriers for the Qatargas project on behalf of the ship-owner MOL.

The country is set to drive Asia’s small scale LNG liquefaction capacity additions, contributing approximately 99% of the capacity additions between 2022 and 2026, GlobalData states.