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2019-01-16 10:55:00

CHINA'S GAS DEMAND WILL UP 11%

CHINA'S GAS DEMAND WILL UP 11%

REUTERS - China's crude oil output is set to remain flat in 2019 while its natural gas demand will rise 11 percent, according to a closely watched forecast from analysts at the country's largest oil and gas producer. 

Crude output from the world's top oil importer will stabilize at 190 million tonnes in 2019, the same level as last year, analysts from the research unit of China National Petroleum Corp said on Wednesday.

That forecast indicates that China's oil majors could struggle to ramp up domestic production and boost reserves despite a call from President Xi Jiping for them to step up their contributions to national energy security.

China's state oil and gas producers PetroChina, Sinopec Corp and CNOOC have vowed to increase their domestic oil and gas drilling in the wake of such calls.

The nation's fuel markets will remain oversupplied, the CNPC forecast showed, with China expected to add 32 million tonnes of new refining capacity in 2019.

A worsening glut in local markets could force refiners to ask for larger export quotas, the analysts said, with total refined products exports likely to climb 19 percent from last year to 48.6 million tonnes.

Diesel consumption is expected to fall to 158 million tonnes from 159.8 million last year, while gasoline demand is seen growing 3.6 percent to 131.9 million tonnes.

The country's natural gas demand will reach 308 billion cubic meters (bcm), CNPC said. That marks an 11.4-percent climb from 2018, although the pace of growth would be down from 16.6 percent recorded previously.

Domestic gas production is expected to reach 170.8 bcm by 2019, according to the forecast.

 

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Earlier: 

 RUSSIAN LNG FOR ASIA
2019, January, 14, 11:25:00

RUSSIAN LNG FOR ASIA

BLOOMBERG - Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs.

 

 

 U.S. - CHINA LNG DOWN
2019, January, 11, 11:25:00

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REUTERS - The number of U.S. liquefied natural gas vessels that went to China in 2018 fell by around 20 percent from the prior year as the trade war between Beijing and Washington heated up.

 

 

 CHINA'S LNG IMPORTS UP BY 48.5%
2018, December, 24, 11:50:00

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REUTERS - China's LNG imports totaled 5.99 million tonnes in November, up 48.5 percent from the same month last year, data from the General Administration of Customs showed.

 

 

 RUSSIAN GAS FOR EVERYONE
2018, November, 19, 11:40:00

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BLOOMBERG - The $11 billion pipeline is one of three giant projects helping the world’s biggest gas producer strengthen its grip on Europe and Asia. Thousands of miles to the east, the Power of Siberia pipeline will connect with China, and a project under the Black Sea will deliver fuel to Turkey and southeast Europe.

 

 CHINA: THE WORLD'S TOP
2018, November, 14, 12:05:00

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REUTERS - China has overtaken Japan to become the world’s top importer of natural gas, as Beijing’s crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.

 

 CHINA: THE LARGEST
2018, July, 11, 09:05:00

CHINA: THE LARGEST

EIA - In recent years, as its domestic energy consumption has grown, China has become a more significant destination for U.S. energy exports. In particular, China has been among the largest importers of U.S. exports of crude oil, propane, and liquefied natural gas.

 

 CHINA'S ECONOMY GROWTH 6.6%
2018, May, 30, 13:30:00

CHINA'S ECONOMY GROWTH 6.6%

IMF - China’s economic growth accelerated in 2017 and is expected to weaken only slightly in 2018 to 6.6 percent and moderate gradually to about 5½ percent by 2023.

Tags: CHINA, GAS, DEMAND
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