According to Chinese customs data released Sunday, China increased its imports of liquified natural gas (LNG) from January to November, pushing the world’s second largest economy past Japan as the world’s leading importer of LNG.
In November, China imported 6.42 million tons of LNG, and while this is below the 6.9 million which it imported one year prior, it was well above Japan’s inbound shipments of 5.09 million tons over the same period this year.
Even so, China’s 56.88 million tons of LNG imported over the first 11 months of this year only comprised 79.9% of the total imported over the same period last year according to the data.
China had overtaken Japan as the world’s largest LNG importer in 2021. However as China repeatedly locked down in response to outbreaks of Covid-19 in 2022, LNG consumption dropped, and Japan, fully reopened, overtook China again. Now as China is fully reopening, it has once again seized the mantle of biggest LNG importer.
This trend appears set to increase now, as China de-emphasizes its adherence to its stringent zero-Covid policies, and its reopening ceases to be subject to sudden and unexpected closures in response to Covid outbreaks.