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Market Chatter: China LNG Imports Up for Second Straight Month Ahead of Anticipated Summer Demand

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China recorded a second consecutive monthly rise in its seaborne gas imports in June as it increased purchases in anticipation of a rise in summer demand, Bloomberg reported Monday, citing customs data.

Last month, the country secured deliveries of 5.68 million tons of liquefied natural gas, an 8.3% year-on-year increase. While the country's H1 imports were 5.6% down from last year, shipping data for 30-day LNG imports moving average indicates a further narrowing of the gap in July, the report said.

Buyers in China are under pressure to replenish stockpiles following the supply disruptions through the Strait of Hormuz, which resulted in a sharp spike in prices and saw the country's inflows sinking to eight-year lows in April. b

About one-third of China's LNG was procured through the Persian Gulf in the pre-war period and the country is offsetting the loss of this supply by increasing purchases from other sellers including Malaysia, Russia and Canada, the report said, citing ship-tracking data.

has reached out to China's National Energy Administration for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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