COVID-19 restrictions together with unexpected weather events such as hurricanes and severe cold winters slashed the gas and LNG demand in China.

In a poll Verdict conducted to analyse the biggest concerns for China’s gas and LNG sector in 2021, a majority 35% responded that slower growth of gas demand to be the biggest concern.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

While 25% of the respondents believed that growing consumption of coal for power generation is the biggest concern, 21% voted that LNG import projects delays are the biggest concern.

Capex cuts by China’s LNG developers was voted to be the biggest concern for the sector by 19% of the respondents.

Poll on biggest concern for China's gas and LNG sector in 2021

The analysis is based on 202 responses received from the readers of Offshore Technology, a Verdict network site, between 21 August 2020 and 12 April 2021.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Prospects of China’s gas and LNG demand

The gas demand in China bounced back earlier than expected in 2020, driven by its industrial sector, after suffering a mild blow from the COVID-19 pandemic. China’s LNG imports between January and August 2020 increased by 10.3% compared to the same period in 2019, to 42.2 million tonnes.

China is further expected to drive the recovery of global gas demand in 2021 that was lost during the pandemic, according to the International Energy Agency (IEA). The country will add more than 130bcm/y of gas demand between 2019 and 2025, possibly putting it back on the track of rapid growth.

Additionally, China’s target of zero-emission by 2060 is likely to boost its LNG demand, which will play a crucial role in sectors that are difficult to decarbonise such as shipping and heavy industry.