China LNG demand seen up by 25 percent in 2018: Qatar energy minister
BERLIN (Reuters) - China’s demand for liquefied natural gas (LNG) is expected to grow by 20 percent to 25 percent in 2018 despite heightened trade tensions with the United States, Qatari Energy Minister Mohammed al-Sada said.
Al-Sada said demand from China, which displaced South Korea as the world’s second largest importer of LNG in 2017, was expected to show strong growth again this year after rising about 46 percent last year.
“It looks like that growth is going to continue at 20, 25 percent, maybe more,” he told Reuters ahead of a bilateral Qatar-Germany investment conference in Berlin on Friday.
Overall global demand for LNG this year was expected to match the 11 percent jump seen in 2017, al-Sada said.
Worldwide growth is driven by new LNG consumers as well as growth in existing markets such as China, which is buying more gas to wean the country off dirty coal to reduce pollution.
Al-Sada said he hoped the United States and China would resolve their differences over trade and avert a trade war.
“I think and hope that logic and rationalism will prevail,” he said. “It is in the interest not only of the two countries, but also the rest of the world.”
China last month included LNG for the first time in its list of proposed tariffs on $60 billion worth of U.S. goods, signaling that it will not back down in a protracted trade standoff with Washington.
Reporting by Andrea Shalal; Editing by Leslie Adler
As discussed in the HPI Market Data 2019 report, published in November by Gas Processing & LNG’s sister publication, Hydrocarbon Processing, rising propane and ethane supplies in the US have been enabled by greater production of shale gas.
Industry Trends: Norway targets global LNG market
Norway aims to become a leading player in the global LNG market during the next several years through the establishment of new, large-scale LNG terminals.
Regional Focus: Challenges of scaling up Africa’s LNG production
Several gas projects are underway in Africa, but they continue to be constrained by inadequate infrastructure, slow finance mobilization, lack of security and uncertainty over hydrocarbon regulations that are casting doubt on the outcome of the continent’s drive to meet its anticipated 128% gas demand increase by 2040.
GasPro 2.0: A Webcast Symposium
The global LNG industry is becoming increasingly interconnected as grassroots export projects get off the ground. Another technology route for processing gas into fuels—GTL—is attracting renewed attention due to improving economics. Small-scale solutions for both LNG and GTL are at the forefront of new technological developments, while major projects using more conventional technologies continue to start up around the world.
During this webcast, we will focus on LNG, GTL, gas processing technology developments and deployments, operations, small-scale solutions, transportation, trading, distribution, safety, regulatory affairs, business analysis and more.
October 25, 2018 08:30 AM CDT