According to State Statistic Bureau, up to the end of 2013, LNG imports has accounted for 32.5% of apparent consumption, up by 3.6% and 2014 shows uptrend. The costal LNG import, as one of four LNG imports channels, is increasing.
As for now, the carriers for China importing LNG mostly belong to international shipowners. As the import amount growing, China will build LNG carrier fleet.
Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.
China Development Bank Corporation is coordinating China financing, earlier estimated by Timchenko at around $20 billion. Vladimir Dmitriev, VEB's chairman, told reporters on Friday that VEB may support Yamal LNG separately as well.
Capacity expected to improve
Up to September, 2014, China has built 11 LNG receiving terminals and over 10 on-building or planned terminals. Sources said that LNG import in 2014 may beyond 20 million tons. In comparison, China has 6 LNG carriers, which far from enough to meet the large increase of LNG import.
According to Customs, during 2013, China importing LNG was totally 18.03 million tons, while the domestic LNG carriers just undertook 6 million tons, one third percent of the total imports in 2013.
The analysts said that the growth of LNG import is 2.47 million tons per year but the LNG carrier increase 1 per year. The supply and demand was imbalance; therefore, LNG shipping can develop optimistically.
Support from government policies
The state will carry out policies to support China to build LNG carrier fleet. In September, 2014, Ministry of Transport has issued Circular No. 32 about opinions on the State Council to promote healthy development of shipping industry. The opinions support Chinese enterprises and shipping companies to form strategic alliances, which benefit for energy safety.
It is understood that China Shipping Develop, China Merchant Shipping Company and CNPC, Sinopec and CNOOC has started to establish joint ventures to operate LNG shipment.
It is predicted that China will set up a large LNG carrier fleet with more than 30 vessels.