China’s natural gas demand to peak between 2035 and 2040 — Sinopec

China’s demand for natural gas is projected to peak at 620 billion cubic meters between 2035 and 2040. Ma Yongsheng, chairman of China’s state-owned Sinopec Corp., shared these expectations at the World Gas Conference. 

He believes the Asia-Pacific region is now the main driver of global gas consumption growth. Ma Yongsheng forecasts the world’s liquified natural gas (LNG) trade to hit 440 million tons in 2025, with Asia accounting for nearly 60% of imports. 

However, the expert warns that while global liquefaction capacity is expected to stand at 420 million tons by 2030, LNG imports will make up less than half of that. Hence, Ma Yongsheng highlights risks of oversupply. 

He also notes the persistent fragility of the LNG market, with regional markets facing uneven infrastructure development, supply chain disruptions caused by geopolitical tensions, and increasing competition from renewable power.