Price for Petroleum Gases and Other Gaseous Hydrocarbons in China - 2023

Price for Petroleum Gases and Other Gaseous Hydrocarbons in China (CIF) - 2022

In 2022, the average import price for petroleum gases and other gaseous hydrocarbonses amounted to $657 per ton, with an increase of 33% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for petroleum gases and other gaseous hydrocarbonses increased by +89.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Oman ($999 per ton), while the price for Kazakhstan ($415 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+56.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Petroleum Gases and Other Gaseous Hydrocarbons in China (FOB) - 2022

In 2022, the average export price for petroleum gases and other gaseous hydrocarbonses amounted to $765 per ton, jumping by 60% against the previous year. In general, the export price showed a notable expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($942 per ton) and Vietnam ($916 per ton), while the average price for exports to Macao SAR ($670 per ton) and South Korea ($686 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+4.0%), while the prices for the other major destinations experienced a decline.

Imports of Petroleum Gases and Other Gaseous Hydrocarbons in China

After three years of growth, supplies from abroad of petroleum gases and other gaseous hydrocarbonses decreased by -24% to 111M tons in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 20%. As a result, imports reached the peak of 146M tons, and then declined sharply in the following year.

In value terms, imports of petroleum gases and other gaseous hydrocarbonses amounted to $72.9B in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +11.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 72% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Petroleum Gases and Other Gaseous Hydrocarbons in China (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	14.7	9.9	17.2	13.2	-3.5%
Qatar	6.9	4.4	6.8	11.3	17.9%
Russia	1.2	2.3	4.3	8.7	93.5%
Turkmenistan	10.3	7.8	6.8	8.2	-7.3%
United States	0.1	2.8	11.8	7.5	321.7%
Malaysia	3.5	1.6	4.3	5.6	17.0%
United Arab Emirates	N/A	1.4	3.3	3.8	64.8%
Oman	N/A	1.1	2.8	3.1	67.9%
Indonesia	2.5	1.7	2.8	2.5	0.0%
Papua New Guinea	1.6	1.0	1.7	1.6	0.0%
Myanmar	2.0	1.6	1.4	1.2	-15.7%
Uzbekistan	1.5	0.7	0.8	0.9	-15.7%
Kazakhstan	1.2	1.8	1.2	0.9	-9.1%
Others	7.5	3.7	6.9	4.3	-16.9%
Total	53.0	42.0	72.1	72.9	11.2%

Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons to China in 2022:

Russia (19.0M tons)
Turkmenistan (18.5M tons)
Australia (15.6M tons)
Qatar (13.1M tons)
Malaysia (12.5M tons)
United States (7.8M tons)
United Arab Emirates (4.3M tons)
Oman (3.1M tons)
Myanmar (2.8M tons)
Indonesia (2.7M tons)
Kazakhstan (2.1M tons)
Uzbekistan (2.0M tons)
Papua New Guinea (1.8M tons)

Exports of Petroleum Gases and Other Gaseous Hydrocarbons in China

In 2022, exports of petroleum gases and other gaseous hydrocarbonses from China expanded slightly to 5.1M tons, with an increase of 2.2% against 2021 figures. The total export volume increased at an average annual rate of +1.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 6.3% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of petroleum gases and other gaseous hydrocarbonses surged to $3.9B in 2022. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Petroleum Gases and Other Gaseous Hydrocarbons in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	1,076	1,387	1,896	2,264	28.1%
South Korea	0.2	0.2	2.4	712	1426.9%
Vietnam	314	300	260	255	-6.7%
Philippines	177	149	155	155	-4.3%
Macao SAR	95.9	151	49.3	73.6	-8.4%
Others	36.9	58.1	20.3	440	128.5%
Total	1,700	2,045	2,384	3,900	31.9%