China has emerged as one of the world’s leading markets for oil and gas products, driven by the growing demand from industrial and transportation sectors. The country’s efforts to transition from coal to natural gas to curb pollution has opened up huge market opportunity for gas producers and related infrastructure providers around the world. Moreover, the demand for refinery and petrochemical products within the country is attracting considerable investments from Chinese, as well as global oil and gas companies.
Booming middle class to drive energy consumption
China’s large population, and especially its growing middle class, is a major driver for energy consumption in the country. China’s domestic energy demand has grown at an annual rate of 4.3% since 2007. Growth in travel for business or leisure purposes and rapid adoption of the latest technological developments by the Chinese population, especially power-hungry products ranging from consumer electronics and home automation solutions to electric vehicles, are emerging as major contributors to the rising energy demand.
Key findings of the report include:
- How is China influencing the global oil and gas industry through strategic policy making and investments in its attempt to achieve energy security
- Evaluation of the Chinese oil and gas industry and highlights the key developments across the various sectors within the industry
- How the Chinese domestic demand for petroleum and petrochemical products can be a major source of opportunity globally
- Outlook on the major deals undertaken by Chinese oil and gas companies in China and overseas
GlobalData’s report, Impact of China on Oil & Gas – Thematic Research analyses the impact of China and informs about some of the key oil and gas companies’ recent activities in the China theme.