Lack of Bullish Support Dampens Chinese Gas Demand in 2023

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There are few indications that Chinese natural gas and LNG demand will rebound in 2023 as expensive spot LNG prices and China’s strict zero-Covid-19 lockdown policies will continue to weigh heavily on the economy, Chinese gas industry sources tell Energy Intelligence. This comes as China is heading towards its first annual decrease in natural gas consumption in 2022. China’s natural gas demand is expected to reach 353 billion cubic meters in 2022, down 1.3% from last year, making it the first year-on-year decline in its history, according to independent Beijing Shichuang Energy Consulting. The country’s apparent gas consumption from January to September 2022 was 269.48 Bcm, down 1.4% compared to the same period last year, according to data from China’s National Development and Reform Commission.

Gas Demand, Gas Pipelines, LNG Supply, LNG Trade, LNG Demand, LNG Projects, LNG Forecasts, Regasification, Ukraine Crisis
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