Japan to Overtake China As World’s Top LNG Importer This Year
Japan is expected to overtake China as the world’s largest importer of liquefied natural gas (LNG) this year, for the first time since 2022, as high LNG prices and sufficient storage in China limit…
Japan to Overtake China As World’s Top LNG Importer This Year
Japan is expected to overtake China as the world’s largest importer of liquefied natural gas (LNG) this year, for the first time since 2022, as high LNG prices and sufficient storage in China limit purchases, analysts at ICIS and Kpler say.
Japan’s LNG demand will exceed, albeit slightly, demand in China, according to estimates by the consultancies compiled by Reuters. Imports into Japan are estimated at 62 million metric tons, while Chinese imports are expected at 61 million tons this year, according to ICIS. Kpler also sees a small edge of Japan over China in imports this year, at 63 million tons for Japan compared to 62 million tons for China.
China became the world’s biggest LNG importer in 2021, but the extended Chinese restrictions during two years of COVID-related lockdowns in the country pushed Japan to the top spot again in 2022.
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