More gas for the winter

China has increased its gas imports more than anticipated. Despite sky-high prices, the country has to keep buying. Winter is approaching, and gas and coal are in short supply. Well over half of gas imports are now liquid gas – which China purchases mainly from geopolitical rivals.

China has been the world’s largest importer of oil for quite some time. Since 2018, it has also imported more natural gas than any other country. Liquefied natural gas is taking an increasingly large share. And so by 2021, China could also overtake Japan as the largest importer of liquefied natural gas (LNG). This fall, just weeks before the onset of the cold North China winter, the country’s power crisis drove demand higher despite horrendous gas prices.

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