Russian LNG supplies to China increased by 50% since the beginning of the year – Kommersant

Deliveries of liquefied natural gas (LNG) from Russia to China for the period January-April increased by 50% in annual terms – up to 2.14 million tons. About it reported in the updated statistics of the General Administration of Customs of the People’s Republic of China.

At the same time, in value terms, Russian LNG imports to China grew by 26.3%, to $1.65 billion. In terms of volumes of LNG exported to China, Russia is in fourth place. In the first place are Australia (6.8 million tons for $4.61 billion), Qatar (5.8 million tons for $3.94 billion) and Malaysia (2.2 million tons for $1.64 billion).

The cost of Russian pipeline gas supplies to China for four months amounted to $2.33 billion – in annual terms, this amount increased by 2.23 times. The physical volume of imports is not given. The first place in the export of pipeline gas to China is still occupied by Turkmenistan ($3.41 billion), followed by Russia, followed by Myanmar ($540.12 million).

At the same time, for the whole of 2022, the supply of Russian pipeline gas to China increased in value terms by 2.63 times, to $3.98 billion.

At the same time, the price of spot LNG for supplies to Northeast Asia fell below $360 per 1,000 cubic meters m. is the lowest figure since June 2021. According to experts, in the coming months, China will slow down coal production, and demand for LNG will exceed the level of 2022: then the Asian market will be premium for producers, and prices in the EU will be lower than in Asia.

More details – in the material “Asia is in no hurry to buy LNG”.

Anastasia Larina