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Page added on November 13, 2018
China Is Expected to Become World’s Biggest Natural Gas Buyer by 2040
China, the driver of global demand, is forecast to become the world’s largest gas-buying country with net imports approaching the level of the European Union by 2040, according to the International Energy Agency’s the World Energy Outlook.
- China already overtook South Korea as second-largest LNG importer last year and is on track to surpass Japan. By 2040, it will be buying a total of 369 billion cubic meters of gas, while volumes into the EU, the biggest buyer, will be just 4 billion cubic meters higher. The gap was as big as 243 billion last year.
China to Rival EU as Top Gas Importer by 2040…
Source: WEO 2018, IEA
Note: New Policies Scenario
Key Insights
- China’s emergence as a super power in the energy markets will benefit exporters of liquefied natural gas as well as Russian pipeline gas supplier Gazprom PJSC that’ll next year complete its first link to supply the fuel to China known as Power of Siberia.
- Even as European gas demand has been revised down amid stricter energy efficiency and renewables targets, gas infrastructure will remain a key asset for security of supply. Nations with built out systems will be better at keeping prices in check in a market where more volatile weather patterns will be increasingly important for setting prices.
…And Even Earlier in Gas Demand
China to overtake the EU in gas demand volumes by mid-2020s
Source: WEO 2018, IEA
Note: New Policies Scenario
Get More
- China’s gas demand triples to 710 billion cubic meters by 2040 and accounts for nearly 30 percent of total demand growth in the period.
- Global gas trade expands 2.3 percent annually — underpinned by the evolution of the LNG market and a blurring line between exporters and importers.
- “Various utilities, national and international oil companies, independent developers and trading houses are increasingly seeking to manage risk or create value from greater optimization and trading.”
- LNG boosts its share of global market to almost 60 percent from 42 percent, “making the gas market much more global and interconnected.”
11 Comments on "China Is Expected to Become World’s Biggest Natural Gas Buyer by 2040"
TIKIMAN on Tue, 13th Nov 2018 12:26 pm
Well those fucking chinks keep popping out worthless babies and consuming. They need to be bombed for the sake of humanity.
Georgia boy on Tue, 13th Nov 2018 12:32 pm
Well said TIKIMAN.
They are oppressing their own people through communism and should be nuked back to the stone age. All they do is waste resources while driving slow in the left lane.
makati1 on Tue, 13th Nov 2018 5:32 pm
TIKI/Georgie boy, get educated:
“China had a total fertility rate—essentially the number of births per woman per lifetime—of 5.9 in the beginning of the 1970s. Today, official sources claim China’s TFR is “between 1.5 to 1.6.” In reality, it’s more like a “dangerously low” 1.4, according to Lu Yang of the Chinese Academy of Social Sciences, and it could even be under 1.2.”
(2.1 is required to keep the population even)
http://www.worldaffairsjournal.org/article/shrinking-china-demographic-crisis
China will be around when the West is gone. You are obviously brainwashed. Congratulations on your narrow-minded stupidity. LOL
makati1 on Tue, 13th Nov 2018 5:36 pm
BTW Stupid Georgie… Chinese drive on the right side. These countries drive on the left.
https://en.wikipedia.org/wiki/List_of_countries_with_left-hand_traffic
It would be intelligent to check your facts before posting.
Davy on Tue, 13th Nov 2018 5:43 pm
“China will be around when the West is gone. You are obviously brainwashed. Congratulations on your narrow-minded stupidity. LOL”
Anytime someone says “will” like the above concerning a future I laugh.
“BTW Stupid Georgie… Chinese drive on the right side. These countries drive on the left. It would be intelligent to check your facts before posting.”
Ah, stupid, he was not talking about a countries traffic lane preferential use. He was making an analogy referencing stupid people who drive slow in the passing lane (left lane of a hwy). Maybe you are too dense to see that. Maybe you should check before you post and look stupid.
I AM THE MOB on Tue, 13th Nov 2018 5:43 pm
TIKIMAN
They will likely be nuked after we hit mother Russia..
dissident on Tue, 13th Nov 2018 10:24 pm
Keep on dreaming, retard. The last 1000 years indicate that you self-anointed ubermenschen will be running with your tails between your legs back home. But this time around Russia will impose the final solution the genocidal westerner problem.
JuanP on Wed, 14th Nov 2018 9:43 am
“Thailand eyeing Russian LNG imports”
https://www.rt.com/business/443924-oil-slump-bear-market/
China has been around for 5,000 years; the Exceptionalist has been waiting for it to crash since the 60s. LOL! I believe the Exceptionalist WILL die and China WILL still be around when that happens, so, in other words he will die waiting. The USA, on the other hand looks headed towards a huge catastrophe, unfortunately. People like Davy are to blame for the US behavior.
Davy on Wed, 14th Nov 2018 10:41 am
“People like Davy are to blame for the US behavior.”
Translation: I hate Davy because he cleans my clock and all I can do is whine. LMFAO at the idiot.
JuanP on Thu, 15th Nov 2018 8:15 am
China continues to collapse! LOL!
https://www.rt.com/business/444072-china-gas-supply-boost/
Davy on Thu, 15th Nov 2018 8:36 am
“China continues to collapse! LOL!”
The world continues to collapse not a LOL matter. Some people are not obsessed with binary agendas and see the whole picture. The US is going down too and that is well covered here. What is not well covered is the rest of the world.