HomeNewsChina's LNG imports reach three-year high in 2024, narrowly missing record

China's LNG imports reach three-year high in 2024, narrowly missing record

1/21/2025
  • Total natural gas imports for 2024 highest since at least 2013
  • December diesel exports fall to lowest level since January 2015

Shipments of liquefied natural gas (LNG) to China, the world's largest buyer of the chilled fuel, rose to a three-year high in 2024 but defied predictions that imports could reach a new record, official data showed on Saturday.

China's LNG imports rose 7.7% to 76.65 MM tonnes (t), according to the General Administration of Customs. That missed forecasts for > 80 MMt, which would have topped the current record of 78.89 MMt in 2021.

Total natural gas imports, which also include pipeline supply, rose 9.9% to 131.69 MMt, the highest since at least 2013.

The customs data also showed that China's diesel exports sank 42.1% in 2024 to 8 MMt. December shipments dragged down the total, falling 89% on-year to 70,000 t, the lowest level since January 2015, because of weak export margins following a decrease in the value-added tax rebate.

Gasoline exports for the year fell 20.8% to 9.74 MMt, while aviation fuel exports rose 19.6% to 18.92 MMt.

Total refined fuel exports, which also include marine bunker fuel, fell 7.2% to 58.14 MMt in 2024.

Exports in MM tonnes:

Exports

Dec

y/y % change

Jan-Dec

y/y % change

Gasoline

0.59

–23.8

9.74

–20.8

Jet fuel

1.29

13.7

18.92

19.6

Diesel

0.07

–89.0

8

–42.1

Imports

Dec

y/y % change

Jan-Dec

y/y % change

LNG

7.14

-13.9

76.65

7.7

 

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