China’s 15th Five-Year Plan lifts 2027 LNG imports by 0.5 mt, with little impact on Asian prices
China’s 15th Five-Year Plan for oil and gas reinforces domestic supply security while providing modest support to industrial gas demand from 2027. Kpler Insight maintains its domestic gas production outlook at around 270 bcm in 2026, 282 bcm in 2027, and 297 bcm in 2028, as well as its pipeline import outlook of 81.9 bcm ...
China's 15th Five-Year Plan emphasizes domestic energy security and system flexibility, with a focus on increasing natural gas usage in hard-to-electrify industries. This policy support is expected to modestly increase non-power gas demand in 2027, lifting LNG imports by 0.5 million tonnes to 68.5 million tonnes. However, the incremental demand remains small and geographically dispersed, meaning it is unlikely to materially impact the 2026-2027 Asian LNG spot price outlook.
Domestic gas production is projected to reach 270 bcm in 2026, rising to 282 bcm in 2027 and 297 bcm in 2028, with pipeline import capacity expected to grow to 88.5 bcm in 2027.
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