The world's largest dedicated liquefied natural gas (LNG) event, the triennial LNG 2019 was held April 1-5 in China, the world's fastest-growing LNG market. China imported about 90 million tonnes last year, a figure which is expected to reach 260 million tonnes, or about 360 billion cubic meters a year by 2020.

Participants included all the most senior LNG industry players such as BP, Shell, Exxon Mobil, Gazprom, Qatar Petroleum and Chevron, as well as China's big-three state-owned energy giants CNOOC, Sinopec and CNPC. 

CNPC claims about 60 percent of China's overall gas imports and 70 percent of domestic production. 

The privately operated domestic LNG industry players were the toast of LNG 2019 for their fast development and flexibility in cooperation with global players. ENN in southeastern China's Zhejiang province received its first imported LNG cargo on December 23, 2014, marking the first time a Chinese private buyer received a cargo via third-party access to a state-owned terminal. 

Huaying Nature Gas, the nation's first and only 6 million tonne-receiving station owner, is targeting the import LNG market for domestic consumption. According to Shu Changxiong, the chairman of Huaying Nature Gas, the total investment is expected to reach 14 billion yuan with LNG carriers and a total transaction capacity of 12 million tons per year.

Shu said Huaying Nature Gas is the first company in China entitled to conduct full-chain development of LNG with overseas companies that's not constrained by certain policies as the state-owned giants are. Thus HNG is undertaking negotiations with foreign companies on natural gas exploration, LNG trading and transportation, receiving station construction and management, and LNG electricity plant and cold energy utilization system design and construction.

The growth of LNG imports in China is driven by an increasingly stringent environmental policy and accelerated restructuring of the country's energy mix. Jean-Marie Dauger, president of GIIGNL said.

“For LNG importers, long-term partnerships, destination and volume flexibility as well as the ability to optimize or arbitrage between Asian and European markets remain key," he said. 

"In China, in India and South East Asia, in particular, LNG's environmental benefits and its versatility make it particularly attractive as a destination fuel for thermal power generation and cogeneration, in the industrial and commercial sectors as well as in a growing variety of fields like marine and road transportation... In 2019 we are likely to reach a tipping point with many long-term supply contracts starting to expire and as new supply comes on-stream. Our industry needs to become more innovative and efficient in trading, fully embracing the opportunities offered by digital technology.”