Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
China’s relatively subdued gas market this year is reflective to some extent of the trade war between Beijing and US President Donald Trump’s administration but is really just a blip, with the long-term growth story for gas in China remaining intact, industry insiders said at the World Gas Conference in Beijing in May. Chinese gas demand is poised to be 70% higher in 2050 than present levels, significantly outperforming a 20% global increase for the fuel, according to Tze San Koh, president of ExxonMobil’s gas business in China and vice-chair of its investment arm in the country. Much of the increase will be driven by coal-to-gas (CTG) switching as coal still makes up more than half of China
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