Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

China continues to update gas import highs


August, 21 2023
watermark Economic news

In June, China set new record levels for natural gas imports. Deliveries through gas pipelines have reached a historical maximum, and the import of liquefied natural gas (LNG) has reached the maximum values for June. 


The total volume of imported gas in June 2023 amounted to 13.4 billion cubic meters, which is 19% more than in the same period last year. This was a record value for this month.


Analysts called China's growing economy in 2023 one of the main factors of such dynamics of the global energy market. Gas imports through pipelines are determined not only by the needs of China, but also by the capabilities of suppliers from Central Asia, especially after the end of the heating season.


The last record for pipeline gas supplies was set in May 2023 (5.762 billion cubic meters. m), but in June this figure was exceeded (5,785 billion cubic meters). Russia increased exports via the Power of Siberia gas pipeline, supplying 1.9 billion cubic meters of gas. Turkmenistan and other countries have also contributed to the total.


As for LNG, imports to China in June 2023 increased by 24% compared to last year, amounting to 7.6 billion cubic meters. In June, China surpassed Japan in terms of LNG imports for the third time in a row. The main LNG suppliers to China are Australia, Qatar and Russia. Deliveries from Russia increased by 43% compared to last year.


It is important to note that the share of LNG re-exports from China is about 1% of total imports, while in winter this figure reaches 3-4%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.