Economics
China's Gas-Demand Growth Rate Below GDP Hinders Russian Deals
- Xi looks to energy security as Putin needs to boost income
- Russia overtaking Angola as China's No. 2 oil supplier in 2015
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China’s demand for natural gas is on pace to grow at a slower rate than the economy for a second straight year, a fact that bodes poorly for any energy agreements that President Xi Jinping and Russian counterpart Vladimir Putin may sign during a meeting in Beijing today.
China’s natural-gas consumption through July rose just 2.3 percent from the same period in 2014, according to data released by the National Development and Reform Commission. Apparent demand actually fell by more than 5 percent in April and May, the first year-on-year declines since at least 2011.