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China Gas Demand May Rise 7% YoY: JLC

NATURAL GAS

Chinese natural gas demand could recover more quickly than expected by 7% year on year in 2023, as government stimulus is expected to boost industrial activity, while summer heat supports demand for cooling, JLC said.

  • Natural gas demand rose by around 6% year on year in the first half of 2023.
  • JLC’s demand growth estimate is above forecasts from China’s NDRC of 5%.
  • China is scheduled to have 160mn t/yr of LNG import capacity spread over 30 terminals by the end of this year, supporting ample supply.

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