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
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
