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China Summer Gas Demand To Rebound This Year

NATURAL GAS

China’s total gas consumption this summer period – April-September – is forecast to rise by 7% to 176bcm year on year, as the abrupt ending of its Covid Zero policy will accelerate economy recovery according to BNEF.

  • LNG imports are expected to hit 33.6mn t this summer, up by 17% year on year. LNG imports are not expected to recover to 2021 levels as elevated spot prices could limit demand upside.
  • Domestic gas output is set to rise steadily, accounting for 40% of the summer-on-summer increase in total gas supply.
  • Pipeline imports could also see a 17% increase on the year, with growth in gas imports from Russia.

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