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China Expects 2023 Annual Gas Demand to Grow by 7%

NATURAL GAS

Chinese regulators expect gas consumption to grow by 7% annually in 2023 to 390 billion cu m, according to a report by the State Energy Administration of the People's Republic of China

  • The recovery follows the around 1.7% annual decrease in consumption in 2022, the first fall since 2002.
  • China expects to meet the growth in demand with increased domestic production, rising pipeline gas supply from Russia, and the import of LNG cargoes as a supply balance.
  • China’s ambition is to cover over 50% of its future gas demand using domestic production. In the first H1 2023, 115.5 billion cu m of natural gas were produced, a year-on-year increase of 5.4%, according to the National Bureau of Statistics of China
Energy BulletsCommodities
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