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China’s Natgas Demand To Keep Momentum In H2

NATURAL GAS

China’s natural gas demand is expected to maintain momentum in H2 2023, boosted by downstream sector consumption growth, according to OilChem.

  • China’s natural gas consumption is forecast to reach 192.3 bcm in H2 2023, up by 10.6 bcm on the same period in 2022.
  • Of the total consumption, 36% will come from industrial use, with a further 22% from power generation. The rise in power generation demand is the result of an increase in gas-fired power stations and natural gas serving as a balancing fuel for power during summer season.
  • Natural gas consumption in H1 2023 was up 7.05% on the year to 194.95 bcm.

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