Asia Pacific: Economic overview
The expansion of China’s gas market will accelerate even as the country’s GDP growth weakens.
China’s economy is expected to expand by 6.6% in 2017, down from 6.7% in 2016, according to the latest outlook from the OECD. Gas demand growth slowed in 2015 and 2016, however, China’s gas market growth is on course to significantly outpace GDP expansion in 2017. Strong offtake at the start of the year is set to drive gas demand increases. Gas demand is likely to continue to outpace GDP growth in 2018, when China’s economy is forecast to expand by 6.4%.