China, the world’s largest importer of liquefied natural gas, reported an 11.2 percent drop in its LNG imports in the first quarter of this year.
The country received about 17.28 million tonnes in the January-March period, according to data from the General Administration of Customs.
In March, China took some 4.63 million tonnes, down 17 percent when compared to the same month last year.
In January, LNG imports dropped by 6.7 percent to 7.81 million tonnes, while in February they decreased by 11.8 percent to 4.86 million tonnes, the customs data previously showed.
One of the main reasons behind China’s lower LNG imports is probably the high spot price which continues to trade above $30/MMBtu, prompting Chinese buyers to hold off on buying spot volumes.
On the other side, China’s pipeline gas imports increased during the January-March period of this year.
Pipeline imports rose by 7.1 percent to 10.54 million tonnes, while in March these imports increased by 8.8 percent to 3.36 million tonnes, the data said.