Chinese LNG demand growth tapers off
A rise in imports fuelled by Beijing’s clean air initiative is threatened by the aftermath of trade tensions with Washington
Nothing lasts forever—and that includes the spectacular growth of Chinese LNG demand. LNG imports in the 2017-18 fiscal year grew by a staggering 51pc, up by 21bn m³ to reach 62bn m³. In 2018-19, growth was still eye-watering, with LNG imports up 17bn m³ to reach 79bn m³. But this means that the growth rate has almost halved to 27pc for 2018-19 and the signs are that growth is continuing to decelerate. LNG imports were 20.5bn m³ in Q3 2019—higher than the corresponding quarter in 2018 by just 15pc. The main reason for slowing LNG demand growth is the total demand for gas. Total gas demand continues to grow, expected to be around 9pc in calendar year 2019 but this is only half of the 18pc g
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