An LNG tanker at China’s Yantai port
China may not maintain record gas demand
Gas auctions underperform, signalling a slow start to 2025 after bumper 2024
China’s gas market grew faster than the economy for the second year running in 2024 but appears to be off to a slow start this year as recent gas auctions on the country’s main trading hub for the fuel have been underwhelming—suggesting weak downstream demand over the first quarter that could limit Chinese spot LNG procurement. China’s apparent gas consumption expanded by 8% year-on-year in 2024, to 426bcm, the fastest growth since 2021 and accelerating from an increase of 7.6% in 2023, according to state economic planner the National Development and Reform Commission. The two consecutive years of demand growth followed a surprise contraction of 1.2% in 2022, the same year the bursting of t
Also in this section
4 April 2025
With extreme weather, refinery closures and geopolitical uncertainty reshaping supply and demand, traders must look beyond headline price movements to understand the actual state of the market
4 April 2025
The April 2025 issue of Petroleum Economist is out now!
4 April 2025
Renewed China tensions threaten island’s inflows of oil and gas from overseas
3 April 2025
Gas use in India has seen significant growth over the past year and looks set to accelerate further, even if the government’s 2030 goal remains a stretch
