China's gas market is getting as hot as the weather got in July. LNG imports almost doubled year-on-year, driven by expanding shares of cheap spot cargoes. With the support of lower city-gate prices and pipeline tariffs, the upgraded '2+26' policy that mandates faster coal-to-gas switching could continue to unlock even more demand. But this could mean supply could become tighter this winter and the role of storage as a way to manage demand swings will become more evident. Companies have been responding to this great growth opportunity. Sinopec has finally entered the gas distribution market and partnering with incumbents may prove a quick win-win. GCL also plans to build terminals to receive its own LNG from its upstream assets in Africa as part of its value chain integration strategy.
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Insight | Aug 2017
China gas and power month in brief: natural gas market getting ready for take-off
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