CHINA IS THE FASTEST GROWING LNG MARKET
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 around USD 200 billion on 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.
LNG INFRASTRUCTURE BOOM
2015 2020
14 LNG Terminals —————————–> 20 LNG Terminals
20mtpa Import Capacity ———————-> 70mtpa Import Capacity
120 Small Scale ——————————> 200 Plants
Onshore Liquefaction Plants