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China gas and power month in brief: balancing acts are increasingly difficult

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Report summary

China maintained a strong appetite for both LNG and electricity. We saw LNG imports grow by 33% year on year in February driven largely by the ramp up in contracted volumes and by a 10% year on year drop in Central Asian pipeline imports. Heavy industries are doing great pushing up overall power demand growth to 6.3%. This momentum can be maintained for a while and we expect to see more power demand could be created when more coal is displaced by electricity in the 2 26 cities while gas upside is relatively limited. Companies are warming up as spring comes. CNOOC has allied with JERA and KOGAS for flexible LNG contract terms and Guanghui has tendered for five cargoes to be delivered between May and December. Two of China s nuclear power giants are also discussing a possible merger.

What's included

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  • Document

    March 2017 dashboard.xls

    XLS 165.50 KB

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    China gas and power month in brief: balancing acts are increasingly difficult

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Table of contents

  • Executive summary
    • Ramp up in contracted volumes continues to drive LNG imports
    • Industrial recovery drives up power demand growth, but challenges remain
    • Something has to give: renewables or nuclear?
    • Electricity may win over gas when ‘2+26’ cities phase out coal
    • The pendulum has swung back: coal generators are once again disadvantaged
    • Guanghui tenders for five cargoes to be delivered between May and December 2017
    • CNOOC allies with JERA and KOGAS for flexible LNG contract terms
    • Birth of a nuclear Titan: CNNC and CNEC plan for a merger
    • ‘Two Sessions blue’ makes a brief appearance

Tables and charts

This report includes 7 images and tables including:

Images

  • China gas and power month in brief: balancing acts are increasingly difficult: Image 1
  • Monthly gas demand
  • Monthly LNG demand
  • Monthly power demand
  • China gas and power month in brief: balancing acts are increasingly difficult: Image 5
  • China gas and power month in brief: balancing acts are increasingly difficult: Image 6
  • Beijing AQI

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