A coal-fired power station in Beijing
China’s gas strength has doubts longer term
The fuel will continue to displace coal in the coming years, but after 2030 the pace of gas growth may slow
Gas demand growth in China is expected to decelerate in the second half of the year, as a slowing economy that Beijing is struggling to stimulate starts to weigh on consumption. But the near-term outlook for the cleanest-burning fossil fuel remains upbeat, as authorities accelerate decarbonisation over the next five years. Chinese gas consumption is expected to rise by 6.5–7.7% year-on-year to reach 420–425bcm in 2024, according to an annual gas industry development report recently released by the National Energy Administration (NEA). Demand expanded by 8.7% in H1, to 210.8bcm, which implies a lower growth rate for H2 based on the full-year forecast. Consumption in H2 could reach 209.2–214.2
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
