中国液化气进口持续升温

China's liaison with gas heats up

2013年至2016年期间，中国合计进口量年均同比增长24％，对全球LPG和LNG进口增长的贡献率达1／3以上。

Chinese seaborne imports of LPG and LNG have increased robustly in recent years, with total volumes rising by an average of 24% p.a.in 2013-16, accounting for more than a third of global volume growth in both LPG and LNG trade over this period. At the same time, there has been a shift in trade flows into China, with long-haul shipments from the US becoming increasingly important. In 2016, Chinese LPG imports totalled 16.5mt, equivalent to 18% of global LPG imports. Chinese imports more than trebled between 2013 and 2016, and whilst LPG demand in China was traditionally driven principally by the residential sector, expansion of petrochemical capacity has recently played a more important role. China's first propane dehydrogenation(PDH) plant opened in 2013, and by the end of 2016, China's PDH capacity had risen to 7.8mtpa, with this expansion fuelling increased demand for LPG as a petrochemical feedstock. So, as LNG and LPG exports from the US continue to rise, China may find its gas relationships becoming increasingly long-distance ones. Overall, China's relationship with gas appears to be blossoming, with numerous factors likely to support import growth going forwards.