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China gas and power month in brief: what's the story behind strong demand?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China gas demand grew 9.6% year-on-year in Q1. LNG imports continued to perform well, but there was a decline in volumes imported from Central Asia. Power demand also grew above expectation in March, supported by a revival in heavy industrial activities. To further boost gas demand, China cut industrial end-users’ gas prices in Shanghai and scaled back natural gas VAT rate from 13% to 11%. On the supply side, CNOOC’s Yuedong LNG terminal received its commissioning cargo, though still far from being able to supply gas to the pipeline. Elsewhere the SNEC event in Shanghai shows that China is leading the latest industry trends across the entire solar PV value chain through continuous technological innovation. In contrast to the booming solar power industry, coal power generators continue to face pressure – the Big Five state-run generators reported a 40% of profits drop in 2016 due to the coal price rally since the second half of last year.
Table of contents
- Executive summary
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Markets
- High gas demand growth signals recent gas boosting policy success
- Soaring power demand in the first quarter but bull run may not last
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Policy
- July tax cut designed to boost gas demand
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Corporate activity
- Yuedong terminal receives commissioning cargo
- Solar technology continues to improve - costs continue to fall
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Smog watch
- Windy spring brought mixed impacts
Tables and charts
This report includes the following images and tables:
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China gas and power month in brief: what's the story behind strong demand?: Image 1Monthly gas demandMonthly LNG demand
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Monthly power demandGCL's cost route for solar moduleCoal price rally hit power generatorsBeijing AQI
What's included
This report contains:
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