Insight
China gas and power month in brief: China remains hungry for gas
Report summary
Risks of gas shortages have surfaced this summer. In the first half of 2018, apparent gas demand grew by 17.5%, pushing China to import 50% more LNG. As a result, PetroChina is managing gas supply to distributors and industrial users, and has sped up underground storage injection. It also signed a medium term SPA with PNG to meet winter peak demand. But it looks like it won’t be enough to prevent a supply crunch this coming winter. Hebei province has changed its position to reprioritise coal-to-gas switching ahead of switching to electricity, while Fujian and Guangdong provinces both announced plans to boost gas supply and consumption. More financial support from central government is likely to propel clean heating projects and unlock more latent gas demand. China remains hungry for gas.
Table of contents
- Executive summary
-
Markets
- Signs of gas shortages surface as demand hovers high
- Power demand growth remains strong
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Policy
- Four ministries jointly announce increase in financial support for winter clean heating in northern China
- Hebei releases 2018 winter clean heating work plan
- Fujian province to accelerate gasification
- Guangdong reiterates increasing gas supply in the blue sky plan
- Government to propel power market reform
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Corporate activity
- PetroChina signs medium term SPA with PNG
- CNPC to consolidate its underground storage facilities into E&P business
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Smog Watch
- Beijing to aim for stricter air quality targets
Tables and charts
This report includes 4 images and tables including:
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, Twh
- Beijing AQI
What's included
This report contains:
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