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Chinese gas demand slump to hit LNG exports

The firm is forecasting a surplus of approximately 18 Bcm of LNG contracted to China across 2015-17.

While the Chinese gas market looked set to continue its pace of growth 12 months ago, with an average of over 15 per cent annually during the previous decade, a range of underlying factors – including weaker economic growth and low oil prices – have drastically reduced predictions for growth.

Consequently, Wood Makcenzie predicts China’s national oil companies to slash domestic output growth from some projects by as much as 25 Bcm across 2015-17 compared to previous forecasts.

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