Reuters is reporting that China’s natural gas demand is expected to grow by 14% in 2019. This forecast comes as the Chinese government continues to make a significant push to increase gas consumption, and move away from coal.
Industry sources have stated this effort will require the importation of huge quantities of LNG, however it has been suggested that this spike in demand will not be enough to completely absorb the latest glut of supply.
According to the chairwoman of Beijing Gas Group, Li Yalan, China’s gas demand in 2019 will grow by 30 billion m3 to 40 billion m3.
The National Development and Reform Commission (NDRC) has said this growth represents as much as a 14% increase in China’s total gas consumption in 2018 (280 billion m3). The country’s consumption growth from 2017 to 2018 was 18%.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/08042019/china-to-see-gas-demand-surge-in-2019/