Despite Beijing’s commitment to developing its gas market, production rates look likely to leave a growing supply-demand gap.
China’s gas output rose by 1% year on year in May, according to data from the NDRC. Although this was the lowest level of growth seen so far in 2016, it was still higher than the increase in demand that month. However, this is expected to be a blip. China’s output rose by just 4% on an annual basis in H1, while demand increased by 11%, and a similar pattern is expected to be seen in Q3.
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