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CHINA DATA: Pipeline gas imports fall 17% on month in Oct - S&P Global

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Piped gas imports fall to 3.21 mil mt

LNG imports decline to 6.17 mil mt

China's pipeline natural gas imports declined to 3.21 million mt in October, down 17.2% from the record high of 3.87 million mt in September, according to data released Nov. 21 by the General Administration of Customs.

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Pipeline gas imports from Russia and Turkmenistan saw month-on-month declines of 26.5% and 18.2%, respectively, in October, according to the data.

The October pipeline gas imports were low due to a delay in restoring gas flows after maintenance at the Power of Siberia pipeline in September, market sources said.

Russia's Gazprom suspended natural gas supplies via the Power of Siberia pipeline to China over Sept. 22-29 due to a scheduled maintenance.

Despite a retreat in pipeline gas imports in the previous month, market sources expect imports to rebound in coming months with more pipeline gas being secured to guarantee winter supply.

China's state-owned PetroChina has signed an agreement with an unidentified oil and gas company in Central Asia to buy a batch of natural gas for delivery over October-March via the China-Central Asia natural gas pipeline.

PetroChina will also increase natural gas imports from Russia via the Power of Siberia pipeline to 43 million cu m/d by end-2021, from 28 million cu m/day, to help meet China's demand during the Winter Olympics.

The lower price of imported pipeline gas compared with imported LNG is also expected to encourage China's piped gas imports.

The average price of pipeline gas imported by China was estimated at $5.69/MMBtu in October, up slightly from $5.63/MMBtu in the previous month. Meanwhile, the average price of imported LNG, comprising both term and spot cargoes, was estimated at $12.83/MMBtu in October, up 10% month on month, and 125.5% higher than the price of imported pipeline gas, S&P Global Platts calculations based on customs data showed.

China imported 6.17 million mt of LNG in October, down 8.6% month on month but up 22.9% year on year, customs data showed.

China's LNG imports from several major suppliers, including Australia, US, Qatar, Malaysia and Russia all saw a month-on-month decline of around 10%-30% in October, except for imports from Indonesia which rose 77% from September, according to customs data.

CHINA NATURAL GAS IMPORTS IN OCTOBER ('000 MT):

Imports

Oct-21

Oct-20

% change

Sep-21

% change

LNG

6,169

5,021

22.9%

6,750

-8.6%

Pipeline gas

3,208

2,508

27.9%

3,873

-17.2%

Total

9,377

7,530

24.5%

10,624

-11.7%

TOP 10 NATURAL GAS SUPPLIERS TO CHINA IN OCTOBER

Country

Grade

Oct-21

Oct-20

% change

Sep-21

% change

Australia

LNG

2,472

2,325

6.3%

2,761

-10.5%

Turkmenistan

Pipeline gas

1,728

1,482

16.6%

2,112

-18.2%

Russian Federation

LNG & pipeline gas

1,006

900

11.8%

1,327

-24.2%

United States

LNG

742

284

161.7%

923

-19.5%

Indonesia

LNG

536

309

73.5%

303

76.9%

Malaysia

LNG

527

524

0.5%

678

-22.2%

Uzbekistan

Pipeline gas

480

237

102.5%

475

1.0%

Qatar

LNG

412

391

5.4%

594

-30.6%

Papua New Guinea

LNG

287

239

20.1%

309

-7.2%

Myanmar

Pipeline gas

252

171

47.6%

264

-4.5%

Total*

9,377

7,530

24.5%

10,624

-11.7%

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CHINA DATA: Pipeline gas imports fall 17% on month in Oct - S&P Global
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