LNG production volume of China was about 136.9 billion cubic meters in 2016, up by 1.7% YOY.
China’s conventional natural gas reserves and production volume are not abundant which cannot meet the growing demands.
Due to the limited growth potential of domestic natural gas production volume, it is inevitable to import natural gas.
China’s dependence on imported petroleum and gas keeps growing. In 2016, China’s LNG import volume was 26.15 million tons, up by 32.97% compared to 2015.
In 2016, there were 17 LNG countries of origin for China, yet over 90% of imported LNG was imported from 5 LNG countries of origin which had long-term contracts with China.