China Could Face Winter LNG Supply Surplus

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

China could be facing an oversupplied domestic natural gas market during the heating season spanning from November to March if winter temperatures remain mild, industry insiders tell Energy Intelligence. Beijing failed to announce a plan to lift its strict zero-Covid-19 lockdown policies during the Chinese Communist Party Congress ended on Oct. 22, which market observers believed could have restarted the country’s lagging economy and ramped up its gas and LNG demand. The lack of a change in policy could spell good news for Europe, as it takes out last year's largest LNG importer in the world as a huge competitor for hard-to-get spot LNG cargoes during the high-demand winter season.

Gas Demand, Gas Prices, Gas Supply, Gas-Fired Electricity, LNG Supply, LNG Trade, Regasification, LNG Demand, LNG Spot Trade, LNG Forecasts
Wanda Ad #2 (article footer)
Unprecedented congestion gripped the EU’s gas grid last year, but the level of disruption is unlikely to support new gas interconnectors.
Tue, Jun 6, 2023
In a move that could shake up the Russian gas sector, Novatek is seeking export rights for its proposed Murmansk LNG project.
Wed, Jun 7, 2023
Europe's heat pump growth is backed by supportive policies, which could displace a significant share of EU gas demand.
Tue, Jun 6, 2023