China Natural Gas Import Drops to 7.35 million tons in July: CGAC
According to CAGC’s statement, China’s natural gas import in July 2020 was 7.35 million tons, down 11.84% M-O-M and down 6.43 Y-O-Y. The accumulative import volume from January to July reached 55.97 million tons, up 2.35% Y-O-Y.
According to SCI’s shipping monitoring, it is reasonable to believe China’s LNG import was around 5.5-5.6 MMT in July, but over 7 cargoes’ clearance documents may be delayed into August Customs statistics.
SCI considers the drop as a normal backward fluctuation from June’s unusual high LNG import, while the piped gas import is expected to remain at lows for the fifth month in a row. However, the rising spot cargo price in Northeast Asia from August and the piped gas import remaining at lows may bring cloud to the traditional warm-up season of natural gas import started from August.
