The World Health Organization (WHO) has announced that the novel coronavirus (2019-nCoV), is now a ‘Public Health Emergency of International Concern’. Aside from the mounting human and economic cost within China, there is also a material impact to global gas and LNG markets. The impact to Chinese gas demand will depend largely on how widespread the disruption is, and ultimately how long the outbreak takes to contain. We estimate between 6 bcm and 14 bcm reduction in 2020 annual gas demand using a ‘best case’ and more ‘prolonged case’ scenario, but there is further downside risk if travel restrictions are extended and if other Asian markets start implementing quarantine measures. We estimate Chinese LNG demand could be between 2.5 Mt and 6.3 Mt lower than our previous forecast and this will create a sustained drop not only in North Asian LNG prices, but also at European and US gas hubs prices.