China’s liquefied natural gas imports rose to a record in July as consumption climbed, customs data showed.
LNG imports gained 66 percent to 1.18 million metric tons, according to data from the Beijing-based General Administration of Customs today.
Imports of LNG cost an average $433 a ton in July, or $8.30 per million British thermal units, 47 percent higher than a year earlier, according to Bloomberg calculations. The country paid $424 a ton for the fuel in June. That compares with $3.89 per million British thermal units for benchmark U.S. gas futures traded at Henry Hub today.
Gas consumption climbed to the highest in five months in July, according to preliminary data from the National Development and Reform Commission on Aug. 15. Apparent demand, or domestic production plus net imports and minus inventory changes, climbed 25 percent in July from a year earlier to 10.3 billion cubic meters, the highest since February.
Spot purchases from Russia, Peru and Nigeria totaled 191,566 tons in July, according to customs data. Spot supplies cost an average $812 a ton compared with $754 in June.
China paid $176 a ton for Australian fuel, its biggest supplier, according to the data. The Asian nation bought 203,977 tons from Yemen at $657 a ton.
China purchased 907,545 tons of natural gas delivered via pipeline from Turkmenistan last month at an average cost of $423 a ton, according to customs data. Piped gas from Central Asia jumped almost fourfold from a year earlier.
LNG is natural gas chilled to liquid form, reducing it to 1-600th of its original volume so it can be shipped to destinations not connected by pipeline.