Storage tanks at the Sinopec Tianjin LNG terminal
Chinese gas demand growth to slow
Consumption will continue to rise over winter, but a stalling post-Covid recovery will put a brake on the market’s expansion
China’s gas demand is set to maintain momentum through to the end of the year as the domestic market gears up for the peak winter demand season. But growth rates are likely to slip as the country’s post-Covid comeback stalls. China’s gas consumption is forecast to grow by around 17bn m³ in the second half of 2021, assuming typical winter weather towards the end of this year. This would be equivalent to a 10pc increase from the same six months of last year. While this growth is still strong, it would be a slower pace than the increase of 29bn m³—or 19pc—seen in the first half of this year. China’s post-pandemic economic recovery has been buffeted by various headwinds in recent months
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
