SINGAPORE : China's liquefied natural gas (LNG) demand is forecast to recover in 2023 as the country emerges from COVID-19 controls to become the bright spot in Asia's consumption for the super-chilled fuel.China's demand is set to rebound to between 70 million and 72 million tonnes in 2023, 9 per cent to
SINGAPORE : China's liquefied natural gas demand is forecast to recover in 2023 as the country emerges from COVID-19 controls to become the bright spot in Asia's consumption for the super-chilled fuel.
Those high prices would continue to suppress demand from the Chinese industrial and power sectors, both highly sensitive to energy costs, said Wei Xiong, a senior analyst at Rystad Energy. In response to high LNG prices, Japan and South Korea aim to increase nuclear power's contribution to their energy supply, leading analysts to cut estimates of 2023 LNG demand from those countries.
But Japanese demand must be viewed cautiously, he added."Its tight power grid will mean that LNG will need to come in stronger if there are any unexpected outages."
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