Asia Pacific: Consumption
China’s gasification plans are driving up its demand, but Taiwan and South Korea will also help boost Northeast Asia’s offtake this winter.
China’s gas boom is set to continue through the winter as major cities in the north of the country switch from coal to gas and drive up overall gas consumption. This, combined with cold weather that has hit key demand areas, will help increase the country’s gas use over the coming months. China’s gas demand rose by 25% year on year in September, to reach 17.2 billion cubic metres. Consumption increased by 18% on an annual basis over the first nine months of the year. Growth over the winter is set to be robust as the government pushes ahead with its gasification plans. Potential regional shortages could result in industrial customers being temporarily cut off if demand spikes during the winter. Although the government is attempting to lift domestic production, the need for imports will rise as consumption increases over the coming months.