IEA hoses LNG bulls

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From the new IEA gas report:

Three major transformations are set to shape the evolution of global natural gas markets in the next five years, setting the scene for this Gas 2018 market outlook:

 The People’s Republic of China (hereafter, “China”) becomes the world’s leading importer of natural gas. Driven by continuous economic growth and strong policy support to curb air pollution, China accounts for 37% of the global increase in natural gas consumption between 2017 and 2023, more than any other country. As domestic production cannot keep pace, China becomes the world’s largest natural gas importer by 2019 and with 171 billion cubic metres (bcm) of imports by 2023, is mostly supplied by liquefied natural gas (LNG).

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.