China's natural gas demand has proved to be surprisingly resilient in the face of the Covid-19 outbreak. GDP fell by 6.8pc during the first quarter because of quarantines and lock-downs-the first time there has been a contraction on this scale since the cultural revolution. But despite this downturn, gas demand in Q1 ended up just 8-10bn m3 lower than was expected before the pandemic, according to Michal Meidan, director of the China energy programme at the Oxford Institute for Energy Studies (OIES).
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