China’s gas strength has doubts longer term
The fuel will continue to displace coal in the coming years, but after 2030 the pace of gas growth may slow
Gas demand growth in China is expected to decelerate in the second half of the year, as a slowing economy that Beijing is struggling to stimulate starts to weigh on consumption. But the near-term outlook for the cleanest-burning fossil fuel remains upbeat, as authorities accelerate decarbonisation over the next five years. Chinese gas consumption is expected to rise by 6.5–7.7% year-on-year to reach 420–425bcm in 2024, according to an annual gas industry development report recently released by the National Energy Administration (NEA). Demand expanded by 8.7% in H1, to 210.8bcm, which implies a lower growth rate for H2 based on the full-year forecast. Consumption in H2 could reach 209.2–214.2
Also in this section
16 September 2024
The third part of our fourth chapter on the history of oil takes the story of gas to the present day with the rise of LNG and the creation of a truly global market
16 September 2024
Gas is difficult to move compared with oil, requiring additional infrastructure. The second part of our history of gas examines how expanding pipeline networks made it possible to monetise the fuel
16 September 2024
The first part of our fourth chapter on the history of oil looks at the origins of gas and LNG—once considered a nuisance, now a fuel of the future
13 September 2024
The Ukraine–Russia gas transit and interconnection agreements are due to expire at the end of this year, but despite some uncertainty, Europe seems well-prepared