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China Fears No Gas Supply Risk During Winter

NATURAL GAS

China has sufficient gas inventories to overcome potential supply disruptions from Central Asian countries that warned to potentially prioritize domestic supplies over exports this winter, consultant BSC said in a note.

  • Increased natural gas production and diversified import sources should meet the peak demand period in January.
  • Additional supply from elsewhere could offset potential import cut from Central Asian countries, which have warned they may need to prioritize domestic supply during the winter. Kazakhstan and Uzbekistan have warned of export reductions to prioritize domestic needs, which may create a shortfall of 2.6bcm, BNEF estimates showed.
  • China’s natural gas consumption during 4Q23 is estimated at 104bcm, up by 6% on the year. Total demand in 2023 is forecast at 375bcm, up by 5.6% on the year.
  • Importers have been refraining from buying spot LNG cargoes due to thin trading margins.
Energy BulletsCommodities
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