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China’s gas demand growth returns and still holds vast LNG import potential
Last year, all sectors of China’s energy market felt the impact of the pandemic, but none more so than LNG. Chinese LNG demand took a hit, with imports down by almost 20% year-on-year. Record LNG prices, economic slowdown and domestic coal supply growth went a long way to keeping Europe’s lights over winter. Economic activites are recovering Since China reopened its borders in early January, economic activities are recovering, which supports a recovery in energy demand. Gas demand grew by 5% year-on-year in the first half of 2023, primarily contributed by the power sector and then industrial sector. China added ... (full story)