Industrial Info Resources reports China”s apparent natural consumption reached 11.1 billion cubic meters in July 2011, an increase of 32 percent from July 2010 and a 3 percent increase from June 2011, according to data issued by the General Customs Administration of China (GCAC).
As consumption increased, the import volume of natural gas also jumped from 15 percent to 25 percent over the same time period.
In July 2011, China imported 1.54 billion cubic meters (or 1.18 million metric tons) of liquefied natural gas (LNG) from seven different regions, Industrial Info reports.
Australia, Indonesia and Malaysia accounted for 66.5 percent of the total import of LNG in July, an increase of 66 percent from July 2010 and a growth of 14 percent from June 2011.
The average price for natural gas imported in China reached $8.2 per million British thermal units (excluding value-added tax) in July 2011, an increase of 32 percent from July 2010 and an increase of 1.1 percent from June 2011.
Likewise, the average price for LNG imported in China increased 46 percent from July 2010 and 2.2 percent from June 2011.
According to Industrial Info, the Chinese government plans to implement a tax refund for 13 percent of the value-added tax currently levied from natural gas imports in order to encourage the importing of natural gas.
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