Letter from China: Gas boom comes with an expiry date

China’s gas market is poised for rapid expansion, but decarbonisation efforts may end the party sooner than previously expected

Business appeared to be booming—given China’s trajectory towards surpassing Japan as the world’s largest importer this year—for LNG project developers at a recent industry event in Shanghai as they lined up to tout their developments to prospective buyers. In virtual attendance were senior executives from Russia’s Novatek, Malaysian NOC Petronas, and Tellurian and Venture Global LNG from the US, some of whom dialled in after midnight from home to speak on panels. Their eagerness to participate underlines the enormous opportunity on offer: with its LNG demand bolstered by clear policy support and strong gas market fundamentals, China’s spot at the LNG importing summit looks assured for years