The Natural Gas Import Market in China to 2023: Demand is Expected to Keep Rising Dublin, May 09, 2019 -- The "Research Report on Natural Gas Import … China's gas consumption from power generation was around 48.4 Bcm in 2018, accounting for around 17% of total gas consumption in the country, Sinopec's data showed. Natural gas is expected to supply 15% of the nation’s energy supply by 2030. Your registration is complete and your account is active. In 2011 China consumed 131.7 billion m3 of natural gas but only produced 100.9 billion m 3. Access latest coal news and analysis, conferences and events. Nonetheless, the incremental demand is substantial: China will add roughly 100 Bcm every five years. If you are a premium subscriber, we are unable to send you a link to reset password for security reasons. However, growth from the power sector will slow down, on subsidy cuts and low margins, according to Sinopec. Industrial activity has also slowed as companies in the major manufacturing hubs of Shanghai, Zhejiang, Jiangsu, Guangdong and Chongqing extended holidays for an extra week until February 9. if the 5th attempt fails, the account will be locked for 30 minutes, Please use only English characters (A-Z, a-z), You already have an account, Please log in or reset password. New and Discontinued Price Symbol Alerts are issued when we launch new assessments and announce discontinued assessments. Where does the global natural gas market go from its historic highs? Gas demand from the power sector will also rise in the future as new gas power plants are expected to start up in coastal provinces in the coming years. China's natural gas demand is set to grow by 14 percent in 2019 amid a huge government push to spur consumption of the fuel, a senior industry executive said, requiring the … Gas demand growth will come mainly from city gas, industrial usage and gas-powered utilities. But even if industrial gas demand recovers quickly, commercial demand could still be low as people are wary of eating out, or returning to shopping malls. April 2017, BEG/CEE China/India Gas Demand, Page 1 Global Gas/LNG Research Current and Future Natural Gas Demand in China and India By Miranda Wainberg Senior Energy Advisor Michelle Michot Foss, Ph.D. Chief Energy Economist and Program Manager Gürcan Gülen, Ph.D. Senior Energy Economist and Research Scientist Daniel Quijano China does have substantial natural gas reserves of its own, however demand has already outstripped production, making imports essential. Access latest metal news and analysis, conferences and events. Access latest gas news and analysis, conferences and events. Please use the button below and we will bring you back here when complete. Strong growth from these regions will more than offset the demand declines from the mature gas markets of Europe and Northeast Asia. Liquefied natural gas • To fill the widening gap between China’s domestic natural gas production and demand, the industry has relied on an increasing amount of pipeline imports and liquefied natural gas (LNG) trade. Singapore-based LNG traders said uncertainty about Chinese gas demand has hit prices, regardless of whether Chinese buyers actually declare force majeure or not. Access latest shipping news and analysis, conferences and events. Subscriber Notes can be received by Commodity Region, and Note Type. City gas demand is likely to experience rapid growth over the next 10-15 years, driven by consumption growth from heating and the public sector. "We expect gas demand from China's inland regions to grow more in the future with industrial transfer," the official said. Yet, the slowing economic growth in China … This means that while gas demand for residential use could grow as most people stay indoors, the drop in demand from industrial, commercial and transportation sectors is likely to be much higher, market sources say. If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password. [Yes] I would like to receive S&P Global Platts promotional emails. Subscriber Notes inform you of upcoming changes related to the markets that we report on, as well as requests for comment on new assessments, and announcements that assessments will be discontinued. Despite historically low LNG spot prices, Chinese and other Asian buyers still import most of their LNG through long-term contracts linked to other fuels such as oil, which generally yields higher prices than the current spot price for LNG. Factories are also finding it difficult to source raw materials or sell their products. China’s growing natural gas demand—key projects and market insights. Many companies cannot shut for too long as they have to meet operational expenses, despite provincial government's announcing monetary and tax relief. Industrial consumption accounted for 40% of gas demand, power generation was 17% and petrochemicals 10%. Singapore — A forecast of China's natural gas development strategy4.1. China's city gas demand was 92.5 Bcm in 2018, accounting for a third of the country's total natural gas demand, Sinopec's data showed. -- Analyst Cindy Liang, cindy.liang@spglobal.com, -- Abache Abreu, abache.abreu@spglobal.com, -- Edited by Norazlina Jumaat, norazlina.jumaat@spglobal.com. "We expect real GDP growth in Q1 2020 to drop materially from the 6.0% pace achieved in Q4 2019, on a scale likely bigger than the decline of 2 percentage points registered in Q2 from Q1 2003 during the SARS outbreak," Nomura said Monday. 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