China's LPG imports hit 6.89 mln tons in 2007

China's imports of liquefied petroleum gas (LPG) surged 15.2% year-on-year to hit 6.98 million tons, valued at US$3.09 billion, according to sources.

The liquefied natural gas imports surged 320% to 2.91 million tons, accounting for 41.7% of the total imports, according to sources with the General Administration of Customs on Saturday.

Of the total LPG imports, 83.4% or 5.82 million tons were imported by the foreign-funded companies, up 37.5%. The main import sources were from Australia and the Middle East, with 3.38 million tons and 2.83 million tons respectively, accounting for 18.55% and 20.6% of the total.

Industry observers predicted China would continue to face the short supply of LPG in a short term, as the LPG importers would reduce their imports due to the limited profits.