| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 7.00% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China LNG Market Analysis
The China LNG Market is expected to register a CAGR of greater than 7% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached the pre-pandemic level.
- China is the sixth largest gas producer and the second largest importer of natural gas due to the high demand for natural gas for power and industries, which will directly aid the LNG market. In addition, natural gas for power generation is increasing as the country aims to reduce coal power plants to reduce carbon emissions. It is also expected to drive the growth of the market studied.
- However, the rapid growth of renewable energy would be a major restraint to the market.
- A high number of LNG projects/development plans are expected to be proposed in upcoming years, underpinned by the growing LNG demand, leading to the creation of several opportunities for the market players in China.
China LNG Market Trends
LNG regasification will dominate the market.
- China dominates the LNG regasification market globally, as the country has a high demand for natural gas due to the phasing out of coal power plants to reduce carbon emissions.
- According to the International Gas Union, in 2021, China had the third-largest regasification capacity of across regasification capacity across the globe, which is about 92.9 million metric tons.
- Further, regasification terminals are under expansion in China to meet the growing demand for natural gas. In June 2021, three storage tanks, three Intermediate Fluid Vaporizer (IFV) regasifiers, 14 loading skids, and relevant supporting facilities and process systems were added at the Zhoushan LNG regasification terminal, which increased the regasification capacity to 5 metric tons per annum.
- Similarly, in August 2021, four 160,000 m3 storage tanks were added at Caofeidian (Tangshan) LNG terminal, increasing the capacity by 3.5 metric tons per annum, taking it to 10 metric tons per annum.
- The regasification terminal is expected to grow in the forecast period due to the high demand for natural gas in China.
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LNG trade to grow in China
- After the COVID-19 pandemic, China witnessed a strong economic recovery raising the demand for natural gas for power generation. In 2021, China overtook Japan as the world's top LNG importing country and imported 79.3 metric tons of LNG.
- Further, to avoid winter 2020/2021, Chinese buyers procured LNG ahead of the winter season to comply with storage requirements and anticipate high demand.
- Moreover, to meet the nation's demand, new regasification terminals are under construction. For instance, in June 2021, the construction work started in June 2021 for the 3 MTPA Phase II at the Binhai LNG terminal and the 3.5 MTPA Phase II at the Zhuhai LNG terminal. Both are expected to be completed in 2023.
- In 2021, Chinese shipbuilders received orders for 30 new LNG tankers, an increase of 6.5 times year-on-year and accounting for a share of 32.6% of the global market.
- According to BP statistical report, In 2021, China imported 109.5 bcm of LNG, as compared to 94bcm LNG in 2020, marking a growth of 16.4%.
- Overall, the growing LNG demand in the nation encourages LNG trade and also facilitates the development of FLNG terminals, regasification terminals, and LNG sip tankers.
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China LNG Industry Overview
The China LNG market is moderately consolidated. The major companies (in no particular order) include PetroChina Company Limited, China Suntien Green Energy, Sinopec Shanghai Petrochemical Co., Ltd., Shell plc, and Total Energies SE.
China LNG Market Leaders
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PetroChina Company Limited
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China Suntien Green Energy
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Sinopec Shanghai Petrochemical Co., Ltd.
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Shell plc
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Total Energies SE.
- *Disclaimer: Major Players sorted in no particular order
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China LNG Market News
- In 2022, the Tianjin LNG terminal went under construction with a capacity of 5 metric tons per annum. The project received a sovereign loan from Asian Investment Bank (USD 500 million) and New Development Bank (EUR 430 million) in March 2021.
- In September 2021, China's state-controlled government, Sinopec, started constructing the Longkou LNG regasification terminal with a capacity of 6.5 metric tons per annum. The terminal is expected to be commissioned by October 2023.
China LNG Industry Segmentation
LNG is natural gas that has been cooled to a liquid state, at about -260° Fahrenheit, for shipping and storage. The volume of natural gas in its liquid state is about 600 times smaller than its volume in its gaseous state. This process makes it possible to transport natural gas to places pipelines do not reach. The LNG market is segmented by LNG infrastructure and LNG trade. By LNG infrastructure, the market is segmented into LNG liquefaction plants, LNG regasification facilities, and LNG shipping. The report also covers the market size and forecasts for the LNG market across major regions. for each segment, the market sizing and forecasts have been done based on revenue.
LNG Infrastructure
| LNG Liquefaction Plants |
| LNG Regasification Plants |
| LNG Shipping |
| LNG Infrastructure | LNG Liquefaction Plants |
| LNG Regasification Plants | |
| LNG Shipping |
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China LNG Market Research FAQs
What is the current China LNG Market size?
The China LNG Market is projected to register a CAGR of greater than 7% during the forecast period (2025-2030)
Who are the key players in China LNG Market?
PetroChina Company Limited, China Suntien Green Energy, Sinopec Shanghai Petrochemical Co., Ltd., Shell plc and Total Energies SE. are the major companies operating in the China LNG Market.
What years does this China LNG Market cover?
The report covers the China LNG Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the China LNG Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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China LNG Industry Report
Statistics for the 2025 China LNG market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China LNG analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
