Infographic: China’s LNG momentum: How long will it last?
China’s LNG imports have soared to record levels as a cold snap sweeps through the country. But a slow down in purchases have been seen in recent weeks, as importers turn away from sky-high premium.
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- China’s seaborne LNG arrivals in 1H January 2021 are up by 10% from the same time last month as cold winter temperatures drive up power demand.
- Imports by top 3 provinces – Tianjin, Guangdong and Zhejiang – are up at least 15% in January vs. full month January last year.
- But soaring Asian LNG spot premiums are starting to deter Chinese importers, reflected in a slowdown in January’s LNG loadings and ton miles demand to China.
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More from Vortexa LNG Analysis
- 15 January 2021, Report: 2021 Trends to Watch in US Energy
- 18 January 2021, US LNG Exports Hold Strong, Down from December’s Record Pace
- 20 January 2021, LNG Freight Rates Follow Surge in Exports
In the News – LNG
- Bloomberg, 13 January 2021 – Cold Snap Prompts Fuel Oil Frenzy in Power-Starved Asia
- WSJ, 11 January 2021 – Cold Snap Sparks Record Rise in Natural Gas Prices in Asia
- Argus Media, 13 January 2021 – Suez Canal emerges as Panama alternative for US LNG