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NATGAS
China’s natural gas consumption saw strong growth in the first five months of 2024, mainly due to falling gas prices and diversified feedgas supplies, OilChem said.
- Apparent consumption of natural gas in May was 35.58 bcm, up 6.40% on the year.
- This was the lowest growth in 2024, attributed to a decrease in residential and industrial electricity consumption amid the rainy season in South China.
- Across Jan-May, natural gas consumption was up 9.26% on the year.
- Falling natural gas prices have driven up demand, with city gas prices down around 25% year over year at around 2.90 yuan per cubic metre.
- LNG prices have propelled the coastal industrial users to purchase pipeline natural gas instead. LNG prices have been higher than natural gas.
Source: OilChem
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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