Asia Pacific: Production
China’s annual gas production growth has slowed during Q4.
China’s gas production rose by 15.9% year on year in October, to reach 12.4 bcm. Annual growth in output has been in the double digits since March. However, in November, production is estimated to have increased by roughly 4% year on year to 12.6 bcm. The government is pushing for greater output and growth could increase again in 2018. China is expected to produce roughly 152 bcm of gas in 2017, an increase of approximately 10.5% year on year. However, it will likely be hard for China to sustain the higher levels of growth seen in 2017 throughout 2018. With the country’s gas demand expected to rise by around 19% on an annual basis, China’s dependence on imports is set to grow.
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