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China’s slowing economy to drag on gas demand growth

After two years of stellar growth, China’s gas demand looks set to expand at a slower rate in 2019 in line with a stuttering economy After two years of stellar growth, China’s gas demand looks set to expand at a slower rate in 2019 in line with a stuttering economy.
By Colin Shek 17 January 2019 Asia Pacific / Supply & Demand 0 33847
Sinopec's Beihai LNG terminal. (Sinopec)

China National Petroleum Corp. (CNPC) has forecast Chinese gas demand growth will slow modestly in 2019, adding weight to the growing view that a deepening slowdown in the world’s second-largest economy could sap China’s energy demand.

In an annual outlook released on Wednesday, the research thinktank of China’s top oil and gas company predicted domestic gas demand will grow by 11.4% year on year in 2019, to 308 billion cubic metres. The forecast aligns with those from Sinopec, which expects China to consume