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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATGAS
China gas demand is expected to grow over 25bcm y/y in 2024 on industrial activity combined with more gas in power according to OIES.
- The government has set a growth target of “around 5%” likely supported by efforts to stabilise the real estate market, more industrial support and modest increases in consumption.
- Government support for industrial development and decarbonisation plans are likely to boost gas demand in industry and power sectors.
- Gas for transport rose in 2023 and is likely to gain again this year as long as spot LNG prices remain soft.
- Gas in power is expected to grow by 5bcm according to CNPC with 30GW of new gas-fired capacity planned for 2024-2025.
- Low LNG prices could favour spot demand potentially at the expense of term contracts and pipeline flows with LNG imports to rise by 10bcm y/y but with upside risks.
- There are incentives to accelerate their construction amid low gas prices despite competition from coal and renewables.
- Increasing spot purchases and PipeChina’s efforts to increase infrastructure will be important market drivers this year.
Source: OIES
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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