China could see slight gains in its LPG imports over next five years, China Petroleum and Chemical Corp (Sinopec) manager Fang Haifeng said.

"It is really difficult to forecast import volume because it is affected by various factors such as prices and demand," Fang told the International LPG Gas Seminar held in Tokyo.
China depends on imports for one third of its total demand. Imports reached more than 6.0-million mt in 2004 despite a downturn the following year. China's total LPG demand is expected to have reached 21-million mt in 2005, nearly eight per cent of the world's total consumption.
Meanwhile, Fang said Chinese buyers have increased their term contract volumes for LPG imports. "The Ratio of term volumes depends on market conditions. If current volatility in crude oil markets continues, term contract volumes may grow," he said.
Sinopec holds about a one third share of China's LPG supply market, followed by PetroChina.