CHINA: Carbon Neutral by 2060

the business opportunities for EU energy solutions providers

A series of three online workshops jointly organised by ECECP and

WORKSHOP 5: The Future of Gas


Session Three: Competitive Gas Markets (Downloads: Summary, Presentations)

  • Walter Boltz – Senior Advisor European Energy – WALTER BOLTZ CONSULTING
  • Dr. Jinsok Sung – Expert, Expert, Asian Gas and LNG Market and research professor, Hankuk University of Foreign Studies
  • Kasper Walet – Managing Director, Maycroft
  • Matthew James – ENERGY POST – Moderator

Video of Session 3

(English subtitled)

Discussion highlights

This year’s gas market is characterised by a slowdown in gas consumption and a stronger focus on security of supply. Due to volatile gas prices as well as interruptions in gas supplies, security of supply has become even more central. Unstable market conditions are pushing climate goals into the background, and the importance of coal remains given its price and the relative abundance of supply and production.

There is strong competition in the energy market as LNG is supplied to Europe as an alternative to Russian pipeline gas – the switch to pipeline imports to Europe from other suppliers is only possible in the long term.

Volatile gas prices, which depend on the geopolitical situation and perceived changes in the future, have a serious impact on the electricity market.

Europe’s gas market

  • Europe’s gas market is facing a gradual decline.
  • By paying the highest prices, Europe has been able to attract gas from other sources.

China’s gas market

  • China is expected to focus on all kinds of fuels, including coal, to enhance energy supply and security.
  • Growth in China’s gas consumption is slowing. Sluggish domestic gas consumption and high prices lead to a decline in LNG imports.
  • High prices affect not only China, but many countries in the Asia Pacific market. While the share of gas is still relatively small in China and other Asian countries, it will play an important role in meeting a fast increasing energy demand and by replacing coal to meet the climate goals.