BMI View: Natural gas consumption is set to see positive, consistent growth over our 10-year forecastperiod as government plans to reduce air pollution and establish a cleaner energy mix gain greatertraction. This increases the likelihood of Hong Kong deploying an LNG import terminal within the comingyears, which in turn poses further upside risk to our gas consumption outlook.
Latest Updates And Key Forecasts
We maintain our low refined fuels consumption growth forecasts for Hong Kong this quarter on the backof sluggish economic growth outlook, as highlighted by our Country Risk team. This is the result of theweaknesses in both the domestic real estate market, as well as China-related external headwinds whichwill continue to undermine trade activity. In addition, we continue to note that growing efficiencies in thetransport sector will continue to put a lid on higher consumption of refined products over the comingyears.