China Policymakers Still Back Gas

摘要

Chinese gas consumption jumped last year thanks largely to government policies to encourage coal-to-gas switching to curb air pollution. Demand rose 17% to around 237 billion cubic meters (23.95 billion cubic feet per day) and LNG imports leapt almost 50% to 38 million tons (WGI Feb.7'18). As a result, the widely anticipated global LNG glut failed to materialize. The extent of growth this year will again likely revolve around government policy — and overarching energy sector "guidelines" unveiled by the National Energy Administration (NEA) earlier this month suggest gas will continue to be promoted.