CHINA overtook South Korea as the world’s second largest LNG importer in 2017 with imports of 38 million tonnes – 46% higher than the previous year.
The state-owned ‘Big 3’ of China National Petroleum Corp. (CNPC), China National Offshore Oil Corp. (CNOOC) and Sinopec Group, have spent aroundUSD 200 billionon foreign acquisitions and joint ventures.
China plans to increase the use of natural gas from 6% to 10%of its energy consumption by 2020.
China’s efforts on using cleaner fuels to fight air pollution in cities and mitigate CO2 emissions have led to growth in natural gas imports and small scale LNG.
Shanghai is the international metropolis of China. It is an economic, financial, trade, transportation, science and innovation centre. China’s best LNG infrastructure is found in Shanghai and where the first station, no. 5, was built.