China increased pipeline gas purchases in March and LPG, pipeline import volumes close to record
MOSCOW. May 18 (Interfax) - China in March 2023 imported 5.475 bcm of natural gas via pipeline, which is up 13% compared to March 2022, and which is the second largest volume in history, China's customs said. Prior to this, the maximum import supply, 5.528 bcm, was registered in August 2022.
China receives pipeline gas from five suppliers: Russia, Kazakhstan, Turkmenistan, Uzbekistan and Myanmar.
Since the beginning of 2023, there has been a planned increase in Russian exports via the Power of Siberia gas pipeline, which has been going according to schedule. At the same time, in January and February, countries in Central Asia completely or partially reduced exports to China, which set the prospects for an increase in supplies later in warmer months. Gas deliveries from Russia may further increase as well, as in the reporting month, Power of Siberia stopped for maintenance, which took 4 days in March and 4 days in April.
In March 2023, pipeline gas was already providing 47% of total gas imports, while in 2022 its share was at 44% and at 35% in 2021.
China imported 4.77 million tonnes (6.2 bcm) of LNG in March 2023, which is 10% more than the 4.35 million tonnes imported a year earlier, but significantly lower than the 6.73 million tonnes in March 2021 and the 5.05 million tonnes in March 2020.
Russian large-tonnage LNG is produced by Sakhalin Energy plants (co-owners - Gazprom , Mitsui and Mitsubishi), as well as Yamal LNG (participants - NOVATEK , TotalEnergies , Chinese CNPC and SRF).
The growth of the Chinese economy in 2023 after the lifting of restrictive measures is one of the main factors affecting the dynamics of the global energy market. In January 2023, China showed a 1% increase in gas imports (and this despite the earlier New Year holidays). In February, as well as in March, China's total gas imports increased 11%.
China's national customs will publish a detailed foreign trade summary by country later this week.