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
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
