Covid-19 to slash China’s 2020 gas demand
LNG will bear the brunt of the impact of the coronavirus outbreak on China’s demand for natural gas in 2020. But the effects are likely to be short-lived unless there is a major escalation of mainland infections
China’s demand for natural gas is expected to be 10bn m3 less in 2020 than it would have been in the absence of the coronavirus Covid-19 outbreak, according to Sublime China Information (SCI99). Most of the reduction, around 9bn m3, is expected in the first quarter with another cut of 1bn m3 in quarter two. “We expect that the market will return to normal from March if things do not escalate,” says Michael Mao, senior energy analyst at SCI99, an influential provider of commodity data and analysis based in Zibo City, Shandong Province. Mao described the reductions as “minor” in the context of a 300bn m3 market. In 2019 Chinese gas consumption reached 304bn m3, up 10pc on 2018. However, he c
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
