China Gas is forecast to import 10 million metric tonnes per year (mt/yr) of liquefied petroleum gas (LPG) over the next five years. The Hong Kong-listed gas operator expects the increase from present levels of 2.8 million mt/yr, as it looks to expand into the petrochemical sector, according to sources. In a statement on Monday, China’s National Development and Reform Commission (NDRC) said that “LNG imports will be increased by more than 20 percent in 2017 compared with 2016.”
China Gas is forecast to import 10 million metric tonnes per year (mt/yr) of liquefied petroleum gas (LPG) over the next five years. The Hong Kong-listed gas operator expects the increase from present levels of 2.8 million mt/yr, as it looks to expand into the petrochemical sector, according to sources. China Gas's LPG sales hit about 4 million mt in 2017-2018, up 9% YoY, of which 2.8 million mt of the gas were imported, with the remainder sourced from domestic suppliers.