Chinese natural gas imports surge in Q1 of 2024

China's natural gas imports via pipeline and in the form of LNG were 32.79mn tonnes in the first quarter of 2024, up 22.8% year/year, according to data released by the customs department on April 12.

The month of March alone saw imports reach 10.76mn tonnes, highlighting the continued momentum in gas imports.

This surge in natural gas imports can be attributed to softer global LNG prices, which have made imports more attractive. Last year, China imported a total of 119.9mn tonnes of natural gas, up 9.9% compared to the previous year, as announced by the department in January.