Natural Gas Consumption has Returned to Growth,while the Industry Faces New Challenges——Review of Natural Gas Industry and Policy in 2023 and Prospect of2024
In 2023,continuous debates internationally further added uncertainties to the development prospects of natural gas(NG)industry,most of which focusing on whether NG is clean and low-carbon,how to position it in the process of energy transformation,and whether the increasing investment should be supported.In global market,the impact of geopolitical events and the European energy crisis was gradually fading,and therefore international gas prices were falling,returning to supply-demand dominance.In China,there have been significant changes in the energy situation since 2021 and therefore great policy adjustments were made,which would bring three impacts on NG industry.Multiple policies have been introduced,including methane emission control,NG utilization,and oil and gas system reform.NG consumption has resumed growth,supply capacity has improved,and overall supply-demand balance has been achieved.For 2024,the international gas market will resume growth,and gas prices will be supported by the uncertainty of the upcoming supply;the newly built LNG stations in China will be put into operation,and meanwhile new challenges of NG industry will need to be handled.
Natural Gas Industry SituationPolicy ReviewProspect
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