From the Editor: China in trouble [Gas in Transition]
From the Editor: China in trouble [Gas in Transition]
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Natural Gas News
From the Editor: China in trouble [Gas in Transition]
Summary
“When she awakes she will shake the world.” Thanks for the insight Napoleon, but having woken, what happens when China falls ill? A weak Chinese economy creates a complex demand outlook for an LNG market in the midst of an expansionary supply-side phase. [Gas in Transition, Volume 3, Issue 8] by: Ross McCracken
China’s apparently ever-expanding appetite for LNG imports has been a key foundation of the modern LNG market. Between 2012 and 2016, rising Chinese demand for the fuel accounted for two-thirds of total market growth. In the next five-year period, China took in about 40% of the new LNG exports coming to market. In the process, in 2021, it briefly overtook Japan as the world’s leading importer of LNG. Domestic gas demand, led by the country’s aggressive coal-to-gas switching programmes, outstripped, by some margin, growth in domestic production and pipeline imports combined. GDP, COVID and Chinese LNG demand China’s need for LNG appeared undiminished by its slowing rate of GDP growth. In fact, LNG imports grew quicker as the country&rsquo...
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